Latest Research Report on Speech
Analytics Market begins with a deep
introduction and then delves broad into specific segments such as raw material,
application, end user, and region, policy study, value chain structure, and
upcoming trends in particular segments or regions. The report on Speech
Analytics prepare a case for investments in different regions based on a
practical view of their regulatory outline, manufacturing dynamics, and
availability of skills and resources in that region.
Speech Analytics Market
Report by Material, Application, and Geography – Global Forecast to 2024 is a
professional and in-depth research report on the world’s major regional Speech
Analytics Market conditions, focusing on the main regions (North America,
Europe and Asia-Pacific) and the main countries (United States, Germany, united
Kingdom, Japan, South Korea and China).
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Report Now @ https://www.millioninsights.com/industry-reports/speech-analytics-market/request-sample
Industry Insights:
IT & Telecom, BFSI are
the major industries in which speech analytics is used. As these industries are
growing at a good pace, the global speech analytics market is expected to
witness growth in the future. Innovations of solutions are required because of
rising demand for risk, compliance management as well as increasing number of
contact centers, so these solutions must help companies to understand the
changing customer requirements. So this will help to open new roads for the
industry for concerned period.
In the U.S., the Dodd-Frank
Wall Street Reform in addition to Consumer Protection Act putting pressure on
bankers for pulling records of mobile phone transactions so because of this
kinds of pressure for protection of intellectual assets for improving
efficiency along with agility in operation by using insights in the Voice Of
customer (Voc).
Deployment Insights:
50% of the total revenue
came from the on-premised employment in 2015.system furthermore data was better
controlled by On-premise solutions however this segment might witness a
sluggish growth because of high cost of deployment methods, requirement of
dedicated IT staff for maintenance, requires high-end IT infrastructure as
compared to the cloud deployment.
As a result of this edge
cloud based deployment segment gained a considerable share in 2015 this will
drive high demand in the forecasted period.IT, BFSI, Media & entertainment
will drive the demand for cloud deployment options.SMEs are also getting cost
effective solutions from the New firms in the market.
Enterprise Size Insights:
40% of total share came
from the SMEs in the year 2015 furthermore it will be expected to grow at a
CAGR exceeding 8% in forecasted period. This figure helps to boost speech
analytics solution for security systems applications which help to improve
customer experience.
Web enabled services,
applications help Small and Medium-Sized Business (SMBs) to run their business
efficiently. Also cloud analytics will help to increase in the product demand
among SMEs.
End-Use Insights:
Telecom sector accounted
over 15% share in 2015 and expected to grow more in the forecasted period. the
industry using speech analytics has many advantages like hold over infrastructure,
ease of issues resolving, increase in productivity, Decrease in stress, time as
well as money saving.
Similarly It industry will
witness growth because of adoption of speech analytics tool in business process
outsourcing (BPO) industry. Speech analytics demand will further enhance
because of advancement in the technological tools
Regional Insights:
20% of the total share came
from North America in 2015 because of the presence of large number of vendors
in the region especially in US. however due to high adoption of the technology
in this region, it will show slow growth over the forecasted period.
On the other hand Asia
Pacific region is expected to perform good and witness high growth at a CAGR of
over 7%.due to high growth rate in this region the leading players in the
industry will offer companies in the region innovative solutions.
Competitive Insights:
Only few players are
present in this market worldwide in which the major players are Avaya Inc.,
Nice Systems, verint Systems, Call Miner, nexidia.Genesys.these players are
investing large amount in R&D to enhance accuracy along with technological
Capability of the product.
Also to gain competitive
advantages over the other players in the market they are using tools like
strategic alliances. Acquisition of Nexidia by Nice Systems to expand its usage
in critical business is a key example.
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