Press Release

Speech Analytics Market growth at the rate of 20.3% CAGR by 2026

March, 2021

" COVID-19 Impact on Speech Analytics market, size, share, growth, industry analysis and forecast 2020-2026 "

In call centers, companies' technical support, phone call recordings, and conversations on the phone are maintained to assess the employee and customer's interaction and improve communication for future anticipation. Speech analytics integrates big data analytics and predictive analytics since it provides an automatic voice recognition feature.

Speech analytics has a crucial role in understanding the in-depth cause of customer dissatisfaction. It assists in keeping the organization informed, which helps them to reduce the risk and instruct the staff correspondingly to eliminate such conditions. Businesses can grasp this kind of analytical solution in upgrading their estimation of customer engagement results. They can also recommend personalized and successful customer engagement procedures such as customer relationship management, which drive the market growth.

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Moreover, the increased adoption of these analytical solutions is driven by the increasing adoption of artificial intelligence and machine learning-based technologies to enable real-time customer insights. Also, the growing requirement for cloud-based speech analytics solutions is strengthening the market in all regions.

The Speech Analytics Market research report titled as "Speech Analytics Market by Component, Application, Deployment Mode and Geography - Forecast up to 2026."

OpenText, Micro Focus, Voci Technologies, Business Systems, Enghouse Interactive, Tech Mahindra, and NICE are the leading market vendors of the speech analytics market.

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North America is expected to command the speech analytics market share. Besides that, the Asia Pacific is witnessing lucrative growth in the forecast period due to the surging growth in the outsourcing of contact centers in this region. In turn, the market players are providing new and innovative solutions.

The report consists of 117 Tables and 72 charts depicting the in-depth market study and the impact analysis of COVID-19. View detailed TOC here.

By Component

  • Solutions
    • Speech Engine
    • Indexing and Query Tools
    • Reporting and Visualization Tools
    • Workforce Optimization
    • Others
  • Services
    • Professional Services
    • Managed Services

By Application

  • Customer Experience Management
  • Call Monitoring
  • Agent Performance Monitoring
  • Sales and Marketing Management
  • Competitive Intelligence
  • Risk and Compliance Management
  • Others

By Deployment Mode

  • Cloud
  • On-premises

By Geography

  • North America
  • Europe
  • Asia Pacific
  • Rest of the World

Mr. Karthick Subramani

Infoholic Research LLP

Marketing & Communication