Voice And Speech Analytics Market Growth Analysis With Investment Opportunities

The Business Research Company's Voice And Speech Analytics Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033

LONDON, GREATER LONDON, UK, June 27, 2024 /EINPresswire.com/ -- The voice and speech analytics market has experienced robust growth in recent years, expanding from $2.11 billion in 2023 to $2.54 billion in 2024 at a compound annual growth rate (CAGR) of 20.0%. The growth in the historic period can be attributed to rapid adoption of conversational ai, expansion of industry-specific solutions, integration with advanced analytics platforms, ai-driven personalization, emphasis on emotional and sentiment analysis.

Strong Future Growth Anticipated
The voice and speech analytics market is projected to continue its strong growth, reaching $4.89 billion in 2028 at a compound annual growth rate (CAGR) of 17.9%. The growth in the forecast period can be attributed to increased adoption of cloud computing, growing need for customer experience improvement, rise of multichannel communication, focus on fraud prevention and security, increased availability of big data.

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Growth driver of the voice and speech analytics market
The surge in video content marketing is expected to propel the growth of the voice and speech analytics market going forward. Video content marketing involves creating and strategically using videos to promote, advertise, or communicate messages to a target audience for marketing purposes. Voice and speech analytics are used in video content marketing for data-driven decision-making, audience understanding, and the optimization of video content for enhanced engagement and impact.

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Major Players and Market Trends
Key players in the voice and speech analytics market include Google LLC, Amazon Web Services Inc., Hewlett Packard Enterprise Development LP, Micro Focus International PLC, Avaya Inc., NICE Systems Ltd., Genesys Telecommunications Laboratories Inc., Qualtrics, Vonage, AlmavivA S.p.A., Verint System Inc.

Major companies operating in the voice and speech analytics market are focusing on strategic collaborations to develop technologically advanced products. A strategic collaboration is a formalized agreement between two or more entities (organizations, individuals, institutions) to work together towards a shared set of goals that benefit all parties involved.

Segments:
1) By Component: Solutions, Services
2) By Deployment Mode: On-Premises, Cloud
3) By Organization Size: Large Enterprises, Small And Medium-Sized Enterprises (SMEs)
4) By Application: Customer Experience Management, Call Monitoring And Summarization, Agent Performance Monitoring, Sales And Marketing Management, Risk And Compliance Management, Sentiment Analysis, Other Applications

Geographical Insights: North America Leading the Market
North America was the largest region in the voice and speech analytics market in 2023. Asia-Pacific is expected to be the fastest-growing region during the forecast period, driven by expanding healthcare facilities and increasing awareness of the benefits of voice and speech analytics.

Voice And Speech Analytics Market Definition
Voice and speech analytics refer to the technology and processes that involve the analysis and interpretation of spoken language in various forms, such as recorded calls, to extract valuable insights, patterns, and information. The use of voice and speech analytics spans various applications, including customer service optimization, fraud detection, and data-driven decision-making in areas such as call centers, market research, and business intelligence.

Voice And Speech Analytics Global Market Report 2024 from TBRC covers the following information:
• Market size data for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Trends, opportunities, strategies and so much more.
The Voice And Speech Analytics Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on voice and speech analytics market size, voice and speech analytics market drivers and trends, voice and speech analytics market major players, competitors' revenues, market positioning, and market growth across geographies. The voice and speech analytics market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

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