Global Voice and Speech Analytics Market: About this market

voice and speech analytics market analysis considers sales from large enterprise and small and medium-sized enterprise end-users. Our analysis also considers the sales of voice and speech analytics in APAC, Europe, North America, South America, and MEA. In 2018, the large enterprise segment had a significant market share, and this trend is expected to continue over the forecast period. Factors such as the rising demand for quality assurance will play a significant role in the large enterprise segment to maintain its market position. Also, our global voice and speech analytics market report looks at factors such as growth in emotion analytics, demand from growing BPO sector, and adoption of speech analytics for financial trading. However, the accuracy of voice and speech analytics cost involved in setting up voice and speech analytics solution, and lack of skilled workforce may hamper the growth of the voice and speech analytics industry over the forecast period.

Global Voice and Speech Analytics Market: Overview

Growth in emotion analytics

There is an increase in the demand for emotion analytics because it helps in the improvement of business productivity and profitability.  Emotion analytics is widely used in customer management to analyze the voice and speech of customers and better understand their behavior to help businesses and enterprises make strategic business decisions. The increasing demand for emotion analytics will lead to the expansion of the global voice and speech analytics market at a CAGR of almost 18% during the forecast period.

Growing use of AI integrated with voice and speech analytics

The integration of AI with voice and speech analytics uses machine learning to improve the efficiency of categorization of voice and speech data. The AI-based categorization of voice and speech data can automatically and efficiently analyze words, acoustics, and sentiments as well as derive hidden opinions and emotions. AI integrated with voice and speech analytics helps in optimizing the pattern recognition process to derive critical insights proactively in the customer management domain. This efficacy of AI integrated with voice and speech analytics is expected to have a positive impact on the overall market growth.

For the detailed list of factors that will drive the global voice and speech analytics market during the forecast period 2019-2023, click here.

Competitive Landscape

With the presence of several major players, the global voice and speech analytics market is moderately fragmented. robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading voice and speech analytics manufacturers, that include audEERING GmbH, Avaya Holdings Corp., Beyond Verbal, Invoca Inc., NICE Ltd., ThoughtSpot Inc., Uniphore Software Systems Pvt. Ltd., Verint Systems Inc., VoiceBase Inc., and VoiceSense Ltd.

Also, the voice and speech analytics market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage on all forthcoming growth opportunities.