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Speech Analytics Trends and Forecast
The future of the global speech analytics market looks promising with opportunities in the BFSI, IT and telecommunication, retail, healthcare, government, and hospitality markets. The global speech analytics market is expected to reach an estimated $6.5 billion by 2030 with a CAGR of 16.8% from 2024 to 2030. The major drivers for this market are rising interest in customer insights, developments in natural language processing and artificial intelligence, and growing demand for improved customer experience and risk mitigation.
A more than 150-page report is developed to help in your business decisions. Sample figures with some insights are shown below.
Speech Analytics by Segment
The study includes a forecast for the global speech analytics by type, deployment, enterprise size, end use industry, and region.
Speech Analytics Market by Type [Shipment Analysis by Value from 2018 to 2030]:
• Solution
• Service
Speech Analytics Market by Deployment [Shipment Analysis by Value from 2018 to 2030]:
• On-Premises
• Cloud-Based
Speech Analytics Market by Enterprise Size [Shipment Analysis by Value from 2018 to 2030]:
• Small and Medium Enterprises
• Large Enterprises
Speech Analytics Market by End Use Industry [Shipment Analysis by Value from 2018 to 2030]:
• BFSI
• IT and Telecommunication
• Retail
• Healthcare
• Government
• Hospitality
• Others
Speech Analytics Market by Region [Shipment Analysis by Value from 2018 to 2030]:
• North America
• Europe
• Asia Pacific
• The Rest of the World
List of Speech Analytics Companies
Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies speech analytics companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the speech analytics companies profiled in this report include-
• Almawave
• ASC Technologies
• Avaya
• Calabrio
• CallMiner
• Clarabridge
• GemaTech
• Genesys
• OnviSource
• Verint System
Speech Analytics Market Insights
Lucintel forecasts that solution will remain the larger segment over the forecast period because it helps to manage the growing abundance of data and turn it into insights that can be put to use, and the solutions give businesses the ability to better serve customers by assisting them in seeing trends, understanding customer behavior, and identifying problems.
North America will remain the largest region over the forecast period because of construction of a sophisticated telecommunications and information technology (IT) infrastructure, presence of several top international suppliers of speech analytics solutions in the area, together with their ongoing efforts to improve and innovate their products.
Features of the Global Speech Analytics Market
Market Size Estimates: Speech analytics market size estimation in terms of value ($B).
Trend and Forecast Analysis: Market trends (2018 to 2023) and forecast (2024 to 2030) by various segments and regions.
Segmentation Analysis: Speech analytics market size by various segments, such as by type, deployment, enterprise size, end use industry, and region in terms of value ($B).
Regional Analysis: Speech analytics market breakdown by North America, Europe, Asia Pacific, and Rest of the World.
Growth Opportunities: Analysis of growth opportunities in different type, deployment, enterprise size, end use industry, and regions for the speech analytics market.
Strategic Analysis: This includes M&A, new product development, and competitive landscape of the speech analytics market.
Analysis of competitive intensity of the industry based on Porter’s Five Forces model.
FAQ
Q1. What is the speech analytics market size?
Answer: The global speech analytics market is expected to reach an estimated $6.5 billion by 2030.
Q2. What is the growth forecast for speech analytics market?
Answer: The global speech analytics market is expected to grow with a CAGR of 16.8% from 2024 to 2030.
Q3. What are the major drivers influencing the growth of the speech analytics market?
Answer: The major drivers for this market are rising interest in customer insights, developments in natural language processing and artificial intelligence, and growing demand for improved customer experience and risk mitigation.
Q4. What are the major segments for speech analytics market?
Answer: The future of the global speech analytics market looks promising with opportunities in the BFSI, IT and telecommunication, retail, healthcare, government, and hospitality markets.
Q5. Who are the key speech analytics market companies?
Answer: Some of the key speech analytics companies are as follows:
• Almawave
• ASC Technologies
• Avaya
• Calabrio
• CallMiner
• Clarabridge
• GemaTech
• Genesys
• OnviSource
• Verint System
Q6. Which speech analytics market segment will be the largest in future?
Answer: Lucintel forecasts that solution will remain the larger segment over the forecast period because it helps to manage the growing abundance of data and turn it into insights that can be put to use, and the solutions give businesses the ability to better serve customers by assisting them in seeing trends, understanding customer behavior, and identifying problems.
Q7. In speech analytics market, which region is expected to be the largest in next 5 years?
Answer: North America will remain the largest region over the forecast period because of construction of a sophisticated telecommunications and information technology (IT) infrastructure, presence of several top international suppliers of speech analytics solutions in the area, together with their ongoing efforts to improve and innovate their products.
Q.8 Do we receive customization in this report?
Answer: Yes, Lucintel provides 10% customization without any additional cost.
This report answers following 11 key questions:
Q.1. What are some of the most promising, high-growth opportunities for the speech analytics market by type (solution and service), deployment (on-premises and cloud-based), enterprise size (small and medium enterprises and large enterprises), end use industry (BFSI, IT and telecommunication, retail, healthcare, government, hospitality, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q.2. Which segments will grow at a faster pace and why?
Q.3. Which region will grow at a faster pace and why?
Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
Q.5. What are the business risks and competitive threats in this market?
Q.6. What are the emerging trends in this market and the reasons behind them?
Q.7. What are some of the changing demands of customers in the market?
Q.8. What are the new developments in the market? Which companies are leading these developments?
Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?
For any questions related to Speech Analytics Market, Speech Analytics Market Size, Speech Analytics Market Growth, Speech Analytics Market Analysis, Speech Analytics Market Report, Speech Analytics Market Share, Speech Analytics Market Trends, Speech Analytics Market Forecast, Speech Analytics Companies, write Lucintel analyst at email: helpdesk@lucintel.com. We will be glad to get back to you soon.
Table of Contents
1. Executive Summary
2. Global Speech Analytics Market : Market Dynamics
2.1: Introduction, Background, and Classifications
2.2: Supply Chain
2.3: Industry Drivers and Challenges
3. Market Trends and Forecast Analysis from 2018 to 2030
3.1. Macroeconomic Trends (2018-2023) and Forecast (2024-2030)
3.2. Global Speech Analytics Market Trends (2018-2023) and Forecast (2024-2030)
3.3: Global Speech Analytics Market by Type
3.3.1: Solution
3.3.2: Service
3.4: Global Speech Analytics Market by Deployment
3.4.1: On-premises
3.4.2: Cloud-based
3.5: Global Speech Analytics Market by Enterprise Size
3.5.1: Small and Medium Enterprises
3.5.2: Large Enterprises
3.6: Global Speech Analytics Market by End Use Industry
3.6.1: BFSI
3.6.2: IT and Telecommunication
3.6.3: Retail
3.6.4: Healthcare
3.6.5: Government
3.6.6: Hospitality
3.6.7: Others
4. Market Trends and Forecast Analysis by Region from 2018 to 2030
4.1: Global Speech Analytics Market by Region
4.2: North American Speech Analytics Market
4.2.2: North American Speech Analytics Market by End Use Industry: BFSI, IT and Telecommunication, Retail, Healthcare, Government, Hospitality, and Others
4.3: European Speech Analytics Market
4.3.1: European Speech Analytics Market by Type: Solution and Service
4.3.2: European Speech Analytics Market by End Use Industry: BFSI, IT and Telecommunication, Retail, Healthcare, Government, Hospitality, and Others
4.4: APAC Speech Analytics Market
4.4.1: APAC Speech Analytics Market by Type: Solution and Service
4.4.2: APAC Speech Analytics Market by End Use Industry: BFSI, IT and Telecommunication, Retail, Healthcare, Government, Hospitality, and Others
4.5: ROW Speech Analytics Market
4.5.1: ROW Speech Analytics Market by Type: Solution and Service
4.5.2: ROW Speech Analytics Market by End Use Industry: BFSI, IT and Telecommunication, Retail, Healthcare, Government, Hospitality, and Others
5. Competitor Analysis
5.1: Product Portfolio Analysis
5.2: Operational Integration
5.3: Porter’s Five Forces Analysis
6. Growth Opportunities and Strategic Analysis
6.1: Growth Opportunity Analysis
6.1.1: Growth Opportunities for the Global Speech Analytics Market by Type
6.1.2: Growth Opportunities for the Global Speech Analytics Market by Deployment
6.1.3: Growth Opportunities for the Global Speech Analytics Market by Enterprise Size
6.1.4: Growth Opportunities for the Global Speech Analytics Market by End Use Industry
6.1.5: Growth Opportunities for the Global Speech Analytics Market by Region
6.2: Emerging Trends in the Global Speech Analytics Market
6.3: Strategic Analysis
6.3.1: New Product Development
6.3.2: Capacity Expansion of the Global Speech Analytics Market
6.3.3: Mergers, Acquisitions, and Joint Ventures in the Global Speech Analytics Market
6.3.4: Certification and Licensing
7. Company Profiles of Leading Players
7.1: Almawave
7.2: ASC Technologies
7.3: Avaya
7.4: Calabrio
7.5: CallMiner
7.6: Clarabridge
7.7: GemaTech
7.8: Genesys
7.9: OnviSource
7.10: Verint System
.
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Lucintel has been in the business of market research and management consulting since 2000 and has published over 1000 market intelligence reports in various markets / applications and served over 1,000 clients worldwide. This study is a culmination of four months of full-time effort performed by Lucintel's analyst team. The analysts used the following sources for the creation and completion of this valuable report:
In-depth interviews of the major players in this market
Detailed secondary research from competitors’ financial statements and published data
Extensive searches of published works, market, and database information pertaining to industry news, company press releases, and customer intentions
A compilation of the experiences, judgments, and insights of Lucintel’s professionals, who have analyzed and tracked this market over the years.
Extensive research and interviews are conducted across the supply chain of this market to estimate market share, market size, trends, drivers, challenges, and forecasts. Below is a brief summary of the primary interviews that were conducted by job function for this report.
Thus, Lucintel compiles vast amounts of data from numerous sources, validates the integrity of that data, and performs a comprehensive analysis. Lucintel then organizes the data, its findings, and insights into a concise report designed to support the strategic decision-making process. The figure below is a graphical representation of Lucintel’s research process.
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