Speech Analytics Market Overview:

Maximize Market Research is a business consulting firm that has published a detailed analysis of the “Speech Analytics Market.”. The report includes key business insights, demand analysis, pricing analysis, and competitive landscape. The analysis in the report provides an in-depth aspect of the current status of the speech analytics market, with forecasts outspreading to the year 2029.

Estimated Growth Rate for Speech Analytics Market:

The market is projected to reach US$ 8.84 billion in 2029 from its 2022 valuation of US$ 2.30 billion. Throughout the projected period, the speech analytics market is anticipated to increase at a CAGR of 21.2%.

Speech Analytics Market Scope and Methodology:

The Speech Analytics market research offers in-depth details on important factors, such as those anticipated to fuel the industry's expansion and impending challenges. Stakeholders will have a solid understanding of the industry's competitive landscape, the products pushed by well-known brands, and the investment potential in the speech analytics market. Both the qualitative and quantitative aspects of the industry are covered in the study. The MMR investigation's purview includes a thorough analysis of the competition for the speech analytics market.

Many additional requirements, each with a detailed reason, are included in the study. In order to build the speech analytics market, a wide range of primary and secondary sources of information were taken into consideration, including government documents, websites, yearly reports, and expert and professional opinions.

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Speech Analytics Market Regional Insights:

The market size, growth rate, import and export by region, and other relevant statistics are all thoroughly analyzed in this study. The regional analysis of the research makes it easy to understand the speech analytics market situations in different countries. The markets in Latin America, Africa, Asia Pacific, North America, and the Middle East make up the Speech Analytics market.

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Speech Analytics Market Segmentation:

by Component

1. Solutions
1.1 Speech Engine
1.2 Indexing and Query Tools
1.3 Reporting and Visualization Tools
1.4 Quality Management
1.5 Root Cause Analysis
1.6 Other Solutions (Emotion Detection and Workforce Optimization)
2. Services
2.1 Professional Services
2.1.1 Training and Consulting
2.1.2 System integration and implementation
2.1.3 Support and Maintenance
2.2 Managed Services

According to estimates, the solutions category will have the biggest market share growth in 2022. Over the course of the projection period, the customer experience management application category is anticipated to have a greater market share. It enables businesses to leverage current customer data to spot patterns and trends, create retention plans, and lower customer attrition. The requirement to examine customer call recordings in order to determine customer intent and conduct behavior analysis is responsible for various factors, including the indexing and query tools segment's large market share.

by Application

1. Customer Experience Management
2. Call monitoring and summarization
3. Agent performance monitoring
4. Sales and marketing management
5. Risk and compliance management
6. Sentiment analysis
7. Other Applications

Over the course of the projected period, the Customer Experience Management segment is anticipated to post the higher CAGR. Contact centers now connect and communicate much more effectively thanks to these apps, which has improved business performance. Speech analytics solutions have the power to completely change a business by giving them several techniques to guarantee that every client interaction is secure and of consistently high quality. The speech engine provides inputs by identifying and comprehending conversations.

by Deployment Mode

1. Cloud
2. On-premises
by Organization Size 1. Large enterprises
2. Small and medium-sized enterprises (SMEs)

by End-User

1. Banking Finance Services and Insurance (BFSI)
2. IT and Telecom
3. Media and Entertainment
4. Healthcare and Life Sciences
5. Retail and eCommerce
6. Travel and Hospitality
7. Government and Defense
8. Healthcare and life sciences
9. Other Verticals

Over the course of the forecast period, the retail and e-commerce industry vertical is anticipated to increase at the greatest CAGR. With speech analytics becoming more and more important in improving customer happiness, retention rates, and churn rates, the BFSI vertical is expected to hold a greater market share during the projection period. The majority of businesses use speech analytics tools to interpret the conversational data they collect and use that data to improve operational efficiency. The retail and e-commerce segments of the speech analytics market are expanding as a result of the growing use of speech analytics tools in the business process outsourcing (BPO) sector.

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Speech Analytics Market Key Players:

1. Verint Systems
2. Avaya
3. Calabrio
4. CallMiner
5. Clarabridge
6. Almawave
7. Voci Technologies
8. Zoom International
9. NICE Systems
10. Genesys
11. HPE
12. Tatwa Technologies
13. Uniphore Software Systems
14. Micro Focus
15. Avaya
16. Google
17. AWS
18. Vonage
19. OpenText
20. Calabrio
21. Eleveo
22. Almawave

For deeper market insights, peruse the summary of the research report:https://www.maximizemarketresearch.com/market-report/speech-analytics-market/12971/

Key questions answered in the Speech Analytics Market are:

What is speech analytics?
What was the Speech Analytics market size in 2022?
What is the growth rate of the speech analytics market?
Which are the factors expected to drive the speech analytics market growth?
What is the CAGR at which the Speech Analytics market will grow during the forecast period?
What are the different segments of the speech analytics market?
Which is the fastest-growing region in the speech analytics market?
What growth strategies are the players considering to increase their presence in speech analytics?
What are the upcoming opportunities and trends for the speech analytics market?
What are the recent industry trends that can be implemented to generate additional revenue streams for the speech analytics market?
Who are the leading companies, and what are their portfolios in the speech analytics market?
What segments are covered in the speech analytics market?
Who are the key players in the speech analytics market?
Key Offerings:

Past Market Size and Competitive Landscape (2017 to 2022)
Past Pricing and price curve by region (2017 to 2022)
Market Size, Share, Size & Forecast by different segment | 2023−2029
Market Dynamics: Growth Drivers, Restraints, Opportunities, and Key Trends by Region
Market Segmentation: A detailed analysis by segment with their sub-segments and Region
Competitive Landscape: Profiles of selected key players by region from a strategic perspective
Competitive landscape: market leaders, Market Followers, Regional player
Competitive benchmarking of key players by region
PESTLE Analysis
PORTER’s analysis
Value chain and supply chain analysis
Legal Aspects of Business by Region
Lucrative business opportunities with SWOT analysis
Recommendations
About Maximize Market Research:

Maximize Market Research is a multifaceted market research and consulting company with professionals from several industries. Some of the industries we cover include medical devices, pharmaceutical manufacturers, science and engineering, electronic components, industrial equipment, technology and communication, cars and automobiles, chemical products and substances, general merchandise, beverages, personal care, and automated systems. To mention a few, we provide market-verified industry estimations, technical trend analysis, crucial market research, strategic advice, competition analysis, production and demand analysis, and client impact studies.

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