Speech Analytics Market Revenue Analyzed and Industry Forecast, 2020-2025

Precise Market Intelligence (PMI) presents its new, comprehensive study on the global Speech Analytics market spanning from 2020 to 2030. The Researchers at PMI have no left no stone unturned in bestowing readers a comprehensive view of the market, by studying the drivers, trends, challenges, and restraints. Backed by historical data and projected data, the report breaks down the vast study into numerous geographies and end-use segments, among others to condense the research. The report also considers production and consumption analysis, value chain analysis, key findings, important suggestions and recommendations, and other aspects. The global speech analytics market size to grow from USD 1.5 billion in 2020 to USD 3.8 billion by 2025, at a Compound Annual Growth Rate (CAGR) of 20.2% during the forecast period.

Analysts at PMI have employed in-depth analysis to offer a lucid understanding of the market and the factors shaping its growth trajectory. Ranging from macro socio-economic factors to micro geography-specific trends, the research has taken into consideration every facet that is likely to play a vital role in the growth of the market in the years to come. Presenting a plethora of valuable information, the report will serve as an effective tool, guiding the market players in making fruitful decisions in the forthcoming years.

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Impact of COVID-19 on Speech Analytics Market

The unforeseen outbreak of COVID-19, which swiftly metamorphosed into the pandemic of unexpected proportions, has shifted the world’s focus towards the healthcare sector. National governments are closely working with healthcare institutions and pharmaceutical companies to provide effective treatment to patients suffering from the infection. As a result, there has been a reorientation of medical priorities across healthcare institutions with treatment for COVID-19 patients being the utmost priority. This is sure to impact the growth of the Speech Analytics market through the pandemic period.

PMI’s report includes a dedicated section expounding both the short-term and long-term impact of the pandemic on the Speech Analytics market. The study is shaped to bolster stakeholders in making the right decisions to mitigate challenges and leverage opportunities through the pandemic.

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Speech Analytics Market: Segmentation

To simply the gargantuan study, the report is segregated on the basis of different segments.

By Component

  • Solutions
    • Speech Engine
    • Indexing and Query Tools
    • Reporting and Visualization Tools
    • Workforce Optimization
    • Others (Emotion Detection, Root Cause Analysis, and Quality Management)
  • Services
    • Professional Services
      • Consulting
      • System Integration and Implementation
      • Support and Maintenance
    • Managed Services

By Application

  • Customer Experience Management
  • Call Monitoring
  • Agent Performance Monitoring
  • Sales and Marketing Management
  • Competitive Intelligence
  • Risk and Compliance Management
  • Others (Business Process Management, and Predictive Analysis)

By Deployment Mode

  • Cloud
  • On-premises

By Organization Size

  • SMEs
  • Large Enterprises

By Vertical

  • BFSI
  • Retail and eCommerce
  • IT and Telecom
  • Energy and Utilities
  • Travel and Hospitality
  • Government
  • Healthcare and Life Sciences
  • Media and Entertainment
  • Others (Education, Transportation and Logistics, and Manufacturing)

By Region:

  • North America (U.S., Canada)
  • Latin America (Mexico, Brazil)
  • Europe (Germany, U.K., France, Italy, Spain, Poland, Russia)
  • East Asia (China, Japan, South Korea)
  • South Asia (India, Thailand, Malaysia, Vietnam, Indonesia)
  • Oceania (Australia, New Zealand)
  • Middle East & Africa (GCC Countries, Turkey, Northern Africa, South Africa)

The aforementioned segments are studied with respect to each individual region, considering the region-specific trends, drivers, and restraints.

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Speech Analytics Market: Competition Analysis

The study bestows valuable insights into the competitive landscape of the global Speech Analytics market, by studying numerous players, their growth strategies, and key developments. The report dwells deep and studies different facets such as product launches, production methodologies, and steps adopted by players to make processes cost-effective, among others, are expected to influence their individual standpoint. Understanding the prevailing trends and strategies on the supply-side empowers players to foster their plan of action accordingly to progress on a remunerative path. Key players covered in the research include

NICE (Israel), Verint (US), Micro Focus (UK), Avaya (US), Genesys (US), Google (US), AWS (US), Vonage (US), OpenText (Canada), Calabrio (US), CallMiner (US), Clarabridge (US), Eleveo (US), Voci Technologies (US), Almawave (Italy), Marchex (US), Enghouse Interactive (US), Castel (US), Aspect (US), Sabio (UK), Business Systems (England), Talkdesk (US), VoiceBase (US), Tech Mahindra (India), Invoca (US), Tethr (US), Cognito (US), Intelligent Voice (UK), Kwantics (India), Batvoice AI (France), Speech Village (UK), Speech-i Ltd (UK), SpeechTech (US), Gnani.ai (India), Observe.AI (US), and Deepgram (US)

Key Questions Answered in PMI’s Speech Analytics Market Report

  1. Which region is anticipated to hold a prominent market share over the forecast period?
  2. What will be the key driving factor propelling the demand for Speech Analytics during the forecast period?
  3. How current socio-economic trends will impact the Speech Analytics market?
  4. What are the growth strategies implemented by prominent players in the Speech Analytics market to maintain their foothold in the competitive landscape?

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