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- Voice Analytics Market – Size, Outlook, Trends and Forecast (2020 – 2026)
The size of the voice analytics market is anticipated to grow from USD 657 million in 2019 to USD 1,597 million by 2024, at a 19.4 percent Compound Annual Growth Rate (CAGR) during the forecast period. It is anticipated that factors such as increasing need to extract insights from client interactions, increasing demand to monitor better agent efficiency, and increasing concentrate on risk and fraud detection will drive market growth. In addition, increasing AI effect and enhancing employee experience and increasing cloud-based solutions adoption are anticipated to generate ample possibilities for speech analytics solution suppliers.
Segment solution to maintain a bigger market size during the forecast period
Component voice analytics industry includes solutions and services. Due to greater solution acceptance, the solution segment outperforms the services segment and would see development in the future. The voice analytics solution enables users to evaluate recordings or discussions in order to recognize speakers ‘ emotions and intentions. For certain characteristics like tone, stress, tempo, pitch, and rhythm, it analyzes the audio patterns. It helps increase customer satisfaction and competitive intelligence, decrease client churn by anticipating clients at risk, and recognize hazards and fraud.
Consulting section to grow in the forecast period at the highest CAGR
Consulting services focus primarily on critical problems and possibilities linked to policies, marketing, activities, technologies, mergers and acquisitions, and finance, resulting in increased efficiency, improved efficiency, cost reduction, and increased resilience. For enhanced strategic outlook, improved performance efficiencies and converted retail-related company operations into more effective and cost-effective operations, consulting services are needed by retail shops, retail planners and merchandisers.
Large companies to encourage the implementation of financial analytics solutions
Because of their wide customer base, large companies produce enormous quantities of information. Companies focus on their key strengths and abilities to preserve their competitive edge over other players. These businesses need better perspectives into client reactions and assist businesses drive their shareholders more income and value. They also use voice analytics solutions to improve their business processes, market intelligence, and customer experience. However, the deployment of on-site speech analytics solutions has been much preferred by big companies as it enables them to hold on to their procedures and operations.
During the forecast period, North America has the largest market size
Global voice analytics market covers five major geographic regions, namely North America, Asia Pacific (APAC), Europe, Middle East and Africa (MEA), and Latin America. In the forecast period, North America is anticipated to account for the biggest size of the market. The implementation of speech analytics solution, relative to the other areas, is anticipated to be the highest in North America. This is primarily due to the existence of different developed economies, such as Canada and the United States, and the growing concentrate on R&D and technology developments.
Key Market Players
The voice analytics industry includes significant solution providers such as Verint Systems (US), NICE (Israel), Avaya (US), ThoughtSpot (US), Uniphore (India), Calabrio (US), Talkdesk (US), VoiceBase (US), Beyond Verbal (Israel), VoiceSense (Israel), SESTEK (Turkey), audEERING (Germany), Invoca (US), and Xdroid (Hungary).
The research involves a thorough competitive assessment of these main voice analytics players with their business profiles, latest trends and main business strategies
Global Voice Analytics Market Research Report Includes:
- An executive summary condensing the whole report such that essential authority can rapidly twist up doubtlessly acquainted with brief overview and conclusion.
- To have a complete market analysis through industry value chain analysis, Porter’s Five Force Model, PESTLE, SWOT analysis, and Y-o-Y analysis.
- Regional and global diversity is analysed with the major countries and the unions. Scrutinizing the revenue generation on Year-On-Year
- Identifying DROC in the current market and their impact on altering market dynamics.
- Competitive landscape analysis to identify the merger and acquisition which will have a comparative financial study with significant competitors.
- Expertise investment opportunities by an analyst to the individual and organisation to have a better foothold in the market.
- Identify the latest developments, market shares and strategies that are employed by the significant Voice Analytics market players.
CHAPTER 1 INTRODUCTION
1.1. Market Definition
1.2. Executive Summary
1.3. The Scope of the Study
CHAPTER 2 RESEARCH METHODOLOGY
2.1. Secondary Research
2.2. Primary Research
2.3. Analytic Tools and Model
2.4. Economic Indicator
2.4.1. Base Year, Base Currency, Forecasting Period
2.5. Expert Validation
2.6. Study Timeline
CHAPTER 3 MARKET ANALYSIS
3.1. Industry Value Chain Analysis
3.2. Porter’s Five Force Analysis
3.2.1. Bargaining Power of Buyers
3.2.2. Bargaining Power of Suppliers
3.2.3. Threats of Substitutes
3.2.4. Threats of New Entrants
3.2.5. Degree of Competition
3.3. PESTLE Analysis
3.3.1. Political
3.3.2. Economical
3.3.3. Social
3.3.4. Technological
3.3.5. Legal
3.3.6. Environmental
3.4. SWOT Analysis
3.4.1. Strengths
3.4.2. Weakness
3.4.3. Opportunities
3.4.4. Threats
3.5. Y-O-Y Analysis
CHAPTER 4 MARKET DYNAMICS
4.1. Market Drivers
4.1.1. Increasing number of call centres
4.1.2. Growing importance to real-time speech analytics
4.1.3. Rising need for CRM & accurate risk management solutions
4.1.4. Technological advancements in voice analytics software & services
4.2. Market Restraints & Challenges
4.2.1. Lack of awareness of voice analytics technologies
4.2.2. High cost & difficulty to quantify ROI
4.2.3. Data security concerns & inconsistency issues
4.3. Market Opportunities
4.3.1. High demand for cloud-based speech analytics solutions
4.3.2. Larger investments in contact centres
CHAPTER 5 GLOBAL VOICE ANALYTICS MARKET – BY COMPONENT
5.1. Solutions
5.2. Services
5.2.1. Professional Services
5.2.1.1. Support & Maintenance
5.2.1.2. Consulting Services
5.2.1.3. Deployment & Integration
5.2.2. Managed Services
CHAPTER 6 GLOBAL VOICE ANALYTICS MARKET – BY ORGANIZATION SIZE
6.1. SME’s
6.2. Large Enterprise
CHAPTER 7 GLOBAL VOICE ANALYTICS MARKET – BY DEPLOYMENT MODEL
7.1. On-Premises
7.2. Cloud
CHAPTER 8 GLOBAL VOICE ANALYTICS MARKET – BY APPLICATION
8.1. Customer Experience Management
8.2. Agent Performance Monitoring
8.3. Risk and Compliance Management
8.4. Call Monitoring
8.5. Sales Performance Management
8.6. Competitive Intelligence
8.7. Others
CHAPTER 9 GLOBAL VOICE ANALYTICS MARKET – BY END USER
9.1. BFSI
9.2. IT & Telecom
9.3. Retail & E-Commerce
9.4. Healthcare & Lifesciences
9.5. Media & Entertainment
9.6. Government & Defense
9.7. Energy & Utilities
9.8. Travel & Hospitality
9.9. Others
CHAPTER 10 GLOBAL VOICE ANALYTICS MARKET – BY GEOGRAPHY
10.1. Introduction
10.2. North America
10.2.1. U.S.
10.2.2. Canada
10.2.3. Mexico
10.2.4. Costa Rica
10.3. South America
10.3.1. Brazil
10.3.2. Argentina
10.3.3. Chile
10.3.4. Columbia
10.3.5. Others
10.4. Europe
10.4.1. U.K.
10.4.2. Germany
10.4.3. France
10.4.4. Italy
10.4.5. Spain
10.4.6. Russia
10.4.7. Netherlands
10.4.8. Switzerland
10.4.9. Poland
10.4.10. Others
10.5. Asia Pacific
10.5.1. China
10.5.2. Japan
10.5.3. India
10.5.4. South Korea
10.5.5. Australia & New Zealand
10.5.6. Malaysia
10.5.7. Singapore
10.5.8. Others
10.6. Middle East & Africa
10.6.1. UAE
10.6.2. Saudi Arabia
10.6.3. Iran
10.6.4. Iraq
10.6.5. Qatar
10.6.6. South Africa
10.6.7. Algeria
10.6.8. Morocco
10.6.9. Nigeria
10.6.10. Egypt
10.6.11. Others
CHAPTER 11 GLOBAL VOICE ANALYTICS MARKET – COMPANY PROFILES
11.1. Verint Systems, Inc.
11.2. Nice, Ltd.
11.3. Avaya, Inc.
11.4. Micro Focus International PLC
11.5. Genesys Telecommunications
11.6. VOCI Tehcnologies
11.7. HPE
11.8. Calabrio, Inc.
11.9. Clarabridge
11.10. Zoom International
11.11. Almawave
11.12. IBM Corporation
11.13. inContact, Inc.
11.14. CallMiner
11.15. Nexidia, Inc.
CHAPTER 12 GLOBAL VOICE ANALYTICS MARKET – COMPETITIVE LANDSCAPE
12.1. Market Share Analysis
12.2. Strategies adopted by top companies
12.3. Mergers, Acquisitions, Collaborations & Agreements
CHAPTER 13 MARKET INSIGHTS
13.1. Industry Experts Insights
13.2. Analysts Opinions
13.3. Investment Opportunities
CHAPTER 14 APPENDIX
14.1. List of Tables
14.2. List of Figures
- Competitive Analysis in marketing and strategic management is an assessment of the strengths and weaknesses of current and potential competitors.
- Monitoring the external and internal factors which affect the market dynamics with the aid of PESTLE analysis.
- The Regional and Global Variety is taken care of in the report.
- Year on Year basis generation of revenue is studied.
- Porter's Five Forces analyze the intensity of competition in an industry and its profitability level.
- The overview and the sustainability of the market are analyzed through SWOT.
- DROC (Drivers, Restraints, Opportunities and Challenges) is recognized in the current market scenario and see how its effect on market dynamics.
- The segment-level analysis in terms of type and technology.
- The value chain analysis, value that's created and captured by a company is the profit margin.
- Value Created and Captured – Cost of Creating that Value = Margin
- An executive summary consists of the whole report and the outcome is been given in the report to have brief knowledge about the report.
- Basis on the depth of the study we approach using analytical tools
- Expertise investment opportunities are given after analyzing the market to give the organization and the individual to have perfect knowledge about the market.
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Additional information
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The size of the voice analytics market is anticipated to grow from USD 657 million in 2019 to USD 1,597 million by 2024, at a 19.4 percent Compound Annual Growth Rate (CAGR) during the forecast period. It is anticipated that factors such as increasing need to extract insights from client interactions, increasing demand to monitor better agent efficiency, and increasing concentrate on risk and fraud detection will drive market growth. In addition, increasing AI effect and enhancing employee experience and increasing cloud-based solutions adoption are anticipated to generate ample possibilities for speech analytics solution suppliers.
Segment solution to maintain a bigger market size during the forecast period
Component voice analytics industry includes solutions and services. Due to greater solution acceptance, the solution segment outperforms the services segment and would see development in the future. The voice analytics solution enables users to evaluate recordings or discussions in order to recognize speakers ‘ emotions and intentions. For certain characteristics like tone, stress, tempo, pitch, and rhythm, it analyzes the audio patterns. It helps increase customer satisfaction and competitive intelligence, decrease client churn by anticipating clients at risk, and recognize hazards and fraud.
Consulting section to grow in the forecast period at the highest CAGR
Consulting services focus primarily on critical problems and possibilities linked to policies, marketing, activities, technologies, mergers and acquisitions, and finance, resulting in increased efficiency, improved efficiency, cost reduction, and increased resilience. For enhanced strategic outlook, improved performance efficiencies and converted retail-related company operations into more effective and cost-effective operations, consulting services are needed by retail shops, retail planners and merchandisers.
Large companies to encourage the implementation of financial analytics solutions
Because of their wide customer base, large companies produce enormous quantities of information. Companies focus on their key strengths and abilities to preserve their competitive edge over other players. These businesses need better perspectives into client reactions and assist businesses drive their shareholders more income and value. They also use voice analytics solutions to improve their business processes, market intelligence, and customer experience. However, the deployment of on-site speech analytics solutions has been much preferred by big companies as it enables them to hold on to their procedures and operations.
During the forecast period, North America has the largest market size
Global voice analytics market covers five major geographic regions, namely North America, Asia Pacific (APAC), Europe, Middle East and Africa (MEA), and Latin America. In the forecast period, North America is anticipated to account for the biggest size of the market. The implementation of speech analytics solution, relative to the other areas, is anticipated to be the highest in North America. This is primarily due to the existence of different developed economies, such as Canada and the United States, and the growing concentrate on R&D and technology developments.
Key Market Players
The voice analytics industry includes significant solution providers such as Verint Systems (US), NICE (Israel), Avaya (US), ThoughtSpot (US), Uniphore (India), Calabrio (US), Talkdesk (US), VoiceBase (US), Beyond Verbal (Israel), VoiceSense (Israel), SESTEK (Turkey), audEERING (Germany), Invoca (US), and Xdroid (Hungary).
The research involves a thorough competitive assessment of these main voice analytics players with their business profiles, latest trends and main business strategies
Global Voice Analytics Market Research Report Includes:
- An executive summary condensing the whole report such that essential authority can rapidly twist up doubtlessly acquainted with brief overview and conclusion.
- To have a complete market analysis through industry value chain analysis, Porter’s Five Force Model, PESTLE, SWOT analysis, and Y-o-Y analysis.
- Regional and global diversity is analysed with the major countries and the unions. Scrutinizing the revenue generation on Year-On-Year
- Identifying DROC in the current market and their impact on altering market dynamics.
- Competitive landscape analysis to identify the merger and acquisition which will have a comparative financial study with significant competitors.
- Expertise investment opportunities by an analyst to the individual and organisation to have a better foothold in the market.
- Identify the latest developments, market shares and strategies that are employed by the significant Voice Analytics market players.
CHAPTER 1 INTRODUCTION
1.1. Market Definition
1.2. Executive Summary
1.3. The Scope of the Study
CHAPTER 2 RESEARCH METHODOLOGY
2.1. Secondary Research
2.2. Primary Research
2.3. Analytic Tools and Model
2.4. Economic Indicator
2.4.1. Base Year, Base Currency, Forecasting Period
2.5. Expert Validation
2.6. Study Timeline
CHAPTER 3 MARKET ANALYSIS
3.1. Industry Value Chain Analysis
3.2. Porter’s Five Force Analysis
3.2.1. Bargaining Power of Buyers
3.2.2. Bargaining Power of Suppliers
3.2.3. Threats of Substitutes
3.2.4. Threats of New Entrants
3.2.5. Degree of Competition
3.3. PESTLE Analysis
3.3.1. Political
3.3.2. Economical
3.3.3. Social
3.3.4. Technological
3.3.5. Legal
3.3.6. Environmental
3.4. SWOT Analysis
3.4.1. Strengths
3.4.2. Weakness
3.4.3. Opportunities
3.4.4. Threats
3.5. Y-O-Y Analysis
CHAPTER 4 MARKET DYNAMICS
4.1. Market Drivers
4.1.1. Increasing number of call centres
4.1.2. Growing importance to real-time speech analytics
4.1.3. Rising need for CRM & accurate risk management solutions
4.1.4. Technological advancements in voice analytics software & services
4.2. Market Restraints & Challenges
4.2.1. Lack of awareness of voice analytics technologies
4.2.2. High cost & difficulty to quantify ROI
4.2.3. Data security concerns & inconsistency issues
4.3. Market Opportunities
4.3.1. High demand for cloud-based speech analytics solutions
4.3.2. Larger investments in contact centres
CHAPTER 5 GLOBAL VOICE ANALYTICS MARKET – BY COMPONENT
5.1. Solutions
5.2. Services
5.2.1. Professional Services
5.2.1.1. Support & Maintenance
5.2.1.2. Consulting Services
5.2.1.3. Deployment & Integration
5.2.2. Managed Services
CHAPTER 6 GLOBAL VOICE ANALYTICS MARKET – BY ORGANIZATION SIZE
6.1. SME’s
6.2. Large Enterprise
CHAPTER 7 GLOBAL VOICE ANALYTICS MARKET – BY DEPLOYMENT MODEL
7.1. On-Premises
7.2. Cloud
CHAPTER 8 GLOBAL VOICE ANALYTICS MARKET – BY APPLICATION
8.1. Customer Experience Management
8.2. Agent Performance Monitoring
8.3. Risk and Compliance Management
8.4. Call Monitoring
8.5. Sales Performance Management
8.6. Competitive Intelligence
8.7. Others
CHAPTER 9 GLOBAL VOICE ANALYTICS MARKET – BY END USER
9.1. BFSI
9.2. IT & Telecom
9.3. Retail & E-Commerce
9.4. Healthcare & Lifesciences
9.5. Media & Entertainment
9.6. Government & Defense
9.7. Energy & Utilities
9.8. Travel & Hospitality
9.9. Others
CHAPTER 10 GLOBAL VOICE ANALYTICS MARKET – BY GEOGRAPHY
10.1. Introduction
10.2. North America
10.2.1. U.S.
10.2.2. Canada
10.2.3. Mexico
10.2.4. Costa Rica
10.3. South America
10.3.1. Brazil
10.3.2. Argentina
10.3.3. Chile
10.3.4. Columbia
10.3.5. Others
10.4. Europe
10.4.1. U.K.
10.4.2. Germany
10.4.3. France
10.4.4. Italy
10.4.5. Spain
10.4.6. Russia
10.4.7. Netherlands
10.4.8. Switzerland
10.4.9. Poland
10.4.10. Others
10.5. Asia Pacific
10.5.1. China
10.5.2. Japan
10.5.3. India
10.5.4. South Korea
10.5.5. Australia & New Zealand
10.5.6. Malaysia
10.5.7. Singapore
10.5.8. Others
10.6. Middle East & Africa
10.6.1. UAE
10.6.2. Saudi Arabia
10.6.3. Iran
10.6.4. Iraq
10.6.5. Qatar
10.6.6. South Africa
10.6.7. Algeria
10.6.8. Morocco
10.6.9. Nigeria
10.6.10. Egypt
10.6.11. Others
CHAPTER 11 GLOBAL VOICE ANALYTICS MARKET – COMPANY PROFILES
11.1. Verint Systems, Inc.
11.2. Nice, Ltd.
11.3. Avaya, Inc.
11.4. Micro Focus International PLC
11.5. Genesys Telecommunications
11.6. VOCI Tehcnologies
11.7. HPE
11.8. Calabrio, Inc.
11.9. Clarabridge
11.10. Zoom International
11.11. Almawave
11.12. IBM Corporation
11.13. inContact, Inc.
11.14. CallMiner
11.15. Nexidia, Inc.
CHAPTER 12 GLOBAL VOICE ANALYTICS MARKET – COMPETITIVE LANDSCAPE
12.1. Market Share Analysis
12.2. Strategies adopted by top companies
12.3. Mergers, Acquisitions, Collaborations & Agreements
CHAPTER 13 MARKET INSIGHTS
13.1. Industry Experts Insights
13.2. Analysts Opinions
13.3. Investment Opportunities
CHAPTER 14 APPENDIX
14.1. List of Tables
14.2. List of Figures
- Competitive Analysis in marketing and strategic management is an assessment of the strengths and weaknesses of current and potential competitors.
- Monitoring the external and internal factors which affect the market dynamics with the aid of PESTLE analysis.
- The Regional and Global Variety is taken care of in the report.
- Year on Year basis generation of revenue is studied.
- Porter's Five Forces analyze the intensity of competition in an industry and its profitability level.
- The overview and the sustainability of the market are analyzed through SWOT.
- DROC (Drivers, Restraints, Opportunities and Challenges) is recognized in the current market scenario and see how its effect on market dynamics.
- The segment-level analysis in terms of type and technology.
- The value chain analysis, value that's created and captured by a company is the profit margin.
- Value Created and Captured – Cost of Creating that Value = Margin
- An executive summary consists of the whole report and the outcome is been given in the report to have brief knowledge about the report.
- Basis on the depth of the study we approach using analytical tools
- Expertise investment opportunities are given after analyzing the market to give the organization and the individual to have perfect knowledge about the market.
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