1. Market Research

Speech Analytics Market by Type and Services), by Deployment Type , by Organization Size, by Vertical, & by Region - Global Forecast to 2020

  • April 2016
  • 147 pages
  • MarketsandMarkets
Report ID: 3782625

Summary

Table of Contents

Search Inside

“Growing adoption of contact centers and increased importance of voice in the multichannel world are driving the speech analytics market”

The speech analytics market size is estimated to grow from USD 589.1 million in 2015 to USD 1.60 billion by 2020, at an estimated Compound Annual Growth Rate (CAGR) of 22.0% from 2015 to 2020. The speech analytics market is driven by factors such as growing adoption of contact centers, increased importance of voice in the multichannel world, and increasing importance of compliance management in organizations.
The speech analytics service market is expected to gain high traction during the forecast period

The speech analytics service market is estimated to grow with high CAGR during the forecast period. Companies in the speech analytics market have extensive portfolio for solutions and therefore the requirement of services becomes necessary to manage these solutions and provide organizations with better business process to sustain themselves in the competitive market. This has led to the growth of professional and managed services in the speech analytics market. The professional services segment is expected to capture a major share in the speech analytics services market during the forecast period of 2015–2020.

“Asia-Pacific is witnessing high growth potential during the forecast period”

North America has captured the largest market share in 2015 and Latin America is the fastest growing region in terms of CAGR. However, due to rapid industrialization, organizations are becoming more competitive and are focusing on better customer service. Thus, realizing the untapped potential of this region, business giants are investing in the speech analytics market into the APAC region. Moreover, in Latin America, the contact center outsourcing has witnessed a high growth rate, which is eventually leading market players to provide companies with innovative speech analytics solutions.

In the process of determining and verifying the market size for several segments and subsegments gathered through secondary research, extensive primary interviews were conducted with key people.

The break-up of profiles of primary participants is given below:

- By Company Type: Tier 1: 20%, Tier 2: 35%, and Tier 3: 45%
- By Designation: C level: 55%, Director level: 25%, and Others: 20%
- By Region: North America: 41%, Europe: 36%, APAC: 18%, Rest of the World: 5%

The latest trends in speech analytics include cloud-based speech analytics solutions and real-time speech analytics solutions. The availability of cloud deployment options for speech analytics solutions has further given a boost to the demand across many verticals. Also, the market in Asia-Pacific (APAC) is gaining high market traction due to increasing economic growth and cloud adoption in the region.

The various key speech analytics vendors and service providers profiled in the report are as follows:

1. Intelligence Interactive Group, Inc.
2. NICE Systems Ltd.
3. Verint Systems
4. Avaya, Inc.
5. Genesys Telecommunication Laboratories, Inc.
6. HP Enterprise
7. inContact, Inc.
8. Calabrio, Inc.
9. Callminer, Inc.
10. Calabridge, Inc.

The report will help the market leaders/new entrants in this market in the following ways:

1. This report segments the speech analytics market comprehensively and provides the closest approximations of the revenue numbers for the overall market and subsegments across different verticals and regions.
2. The report helps stakeholders to understand the pulse of the market and provides them information on key market drivers, restraints, challenges, and opportunities.
3. This report will help stakeholders to better understand the competitor and gain more insights to better their position in the business. The competitive landscape section includes competitor ecosystem, new product developments, partnerships, and mergers and acquisitions.

Get Industry Insights. Simply.

  • Latest reports & slideshows with insights from top research analysts
  • 60 Million searchable statistics with tables, figures & datasets
  • More than 25,000 trusted sources
  • Single User License — provides access to the report by one individual.
  • Department License — allows you to share the report with up to 5 users
  • Site License — allows the report to be shared amongst all employees in a defined country
  • Corporate License — allows for complete access, globally.

Veronica helps you find the right report:

Testimonials

The research specialist advised us on the best content for our needs and provided a great report and follow-up, thanks very much we shall look at ReportLinker in the future.

Kate Merrick

Global Marketing Manager at
Eurotherm by Schneider Electric

We were impressed with the support that ReportLinker’s research specialists’ team provided. The report we purchased was useful and provided exactly what we want.

Category Manager at
Ikea

ReportLinker gave access to reliable and useful data while avoiding dispersing resources and spending too much time on unnecessary research.

Executive Director at
PwC Advisory

The customer service was fast, responsive, and 100% professional in all my dealings (...) If we have more research needs, I'll certainly prioritize working with ReportLinker!

Scott Griffith

Vice President Marketing at
Maurice Sporting Goods

The research specialist provided prompt, helpful instructions for accessing ReportLinker's product. He also followed up to make sure everything went smoothly and to ensure an easy transition to the next stage of my research

Jessica P Huffman

Research Associate at
American Transportation Research Institute

Excellent customer service. Very responsive and fast.

Director, Corporate Strategy at
Ingredion

I reached out to ReportLinker for a detailed market study on the Air Treatment industry. The quality of the report, the research specialist’s willingness to solve my queries exceeded my expectations. I would definitely recommend ReportLinker for in-depth industry information.

Mariana Mendoza

Global Platform Senior Manager at
Whirlpool Corporation

Thanks! I like what you've provided and will certainly come back if I need to do further research works.

Bee Hin Png

CEO at
LDR Pte Ltd

The research specialist advised us on the best content for our needs and provided a great report and follow-up, thanks very much we shall look at ReportLinker in the future.

Kate Merrick

Global Marketing Manager at
Eurotherm by Schneider Electric

ref:plp2016

Reportlinker.com © Copyright 2017. All rights reserved.

ReportLinker simplifies how Analysts and Decision Makers get industry data for their business.