Global Audio Communication Monitoring Market, By Component (Solutions, Services), Type (Wireless Communication, Wired Communication), Technology (Law Enforcement Agencies, Sales and Internal Communication Monitoring, Commercial Areas, Broadcast Monitoring, Others), Deployment Mode (On-Premises, Cloud), Organization Size (Large Enterprises and Small and Medium-Sized Enterprises), Vertical (BFSI, Media and Entertainment, Retail and E-commerce, Telecom and IT, Government, Healthcare and Life Sciences, Others), Country (U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa) Industry Trends and Forecast to 2028.
The audio communication monitoring market is expected to witness market growth at 18.90% in the forecast period of 2021 to 2028. Data Bridge Market Research report on audio communication monitoring market provides analysis and insights regarding the various factors expected to be prevalent throughout the forecast period while providing their impacts on its growth. Rapid digitization across various industries is escalating the growth of the audio communication monitoring market.
Audio communication monitoring refers to the process that assists in analyzing audio conversations in real-time and recorded form and finding structures in interactions. It results in revealing insights provided by employees to clients and customers or vice versa. These solutions help extract important business intelligence data to make strategic decisions for the company. The communication monitoring consists of three parts, including recording, processing and analyzing the audio files.
The increase in the number of tele fraudulent activities and cybercrimes across the globe acts as one of the major factors driving the growth of the audio communication monitoring market. The high need for receiving real-time insights from the call records and communication data, converting it into structured form across the organization, and the rise in demand for risk and compliance management accelerate the market growth. The increase in the deployment of audio communication monitoring by SMBs to reduce the initial investment and operational cost and rise in need for analyzing audio conversations in real-time further influence the market. Additionally, digitization, increase in demand for remote contact centers during the COVID-19 pandemic, and increase in significance on security, call monitoring and compliance management positively affect the audio communication monitoring market. Furthermore, the implementation of AI, analytics, and NLP capabilities for adding value to existing audio communication monitoring extend profitable opportunities to the market players in the forecast period of 2021 to 2028.
On the other hand, data and information security concerns and legacy system architecture are expected to obstruct market growth. Lack of awareness about audio communication monitoring solutions and issues with maintaining business continuity during COVID-19 pandemic is projected to challenge the audio communication monitoring market in 2021-2028.
This audio communication monitoring market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on audio communication monitoring market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Audio Communication Monitoring Market Scope and Market Size
The audio communication monitoring market is segmented on the basis of component, type, technology, deployment mode, organization size, and vertical. The growth amongst the different segments helps you in attaining the knowledge related to the different growth factors expected to be prevalent throughout the market and formulate different strategies to help identify core application areas and the difference in your target markets.
- On the basis of component, the audio communication monitoring market is segmented into solutions and services. Services are further segmented into professional services and managed services.
- On the basis of type, the audio communication monitoring market is segmented into wireless communication and wired communication.
- On the basis of technology, the audio communication monitoring market is segmented into law enforcement agencies, sales and internal communication monitoring, commercial areas, broadcast monitoring and others. Others are further segmented into sensitive areas and employee/agent performance monitoring.
- On the basis of deployment mode, the audio communication monitoring market is segmented into on-premises and cloud.
- On the basis of organization size, the audio communication monitoring market is segmented into large enterprises and small and medium-sized enterprises.
- On the basis of vertical, the audio communication monitoring market is segmented into BFSI, media and entertainment, retail and e-commerce, telecom and IT, government, healthcare and life sciences and others.
Global Audio Communication Monitoring Market Country Level Analysis
The audio communication monitoring market is analyzed and market size, volume information is provided by country, component, type, technology, deployment mode, organization size, and vertical as referenced above.
The countries covered in the global audio communication monitoring market report are the U.S., Canada and Mexico in North America, Brazil, Argentina and Rest of South America as part of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA).
North America dominates the audio communication monitoring market due to the presence of a large number of enterprises and an increase in ICT spending within the region. Asia-Pacific is expected to witness significant growth during the forecast period of 2021 to 2028 because of the increasing investments in the region.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Audio Communication Monitoring Market Share Analysis
The audio communication monitoring market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, regional presence, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to the audio communication monitoring market.
The major players covered in the audio communication monitoring market report are CISCO, IBM Corporation, Enghouse Interactive., AudioCodes Limited., Integrated Research Ltd., Martello Technologies., Nuance Communications, Inc., Avaya Inc., Veritone, Inc., Relativity, PathSolutions Inc., Empirix, Genesys, Nectar Services Corp., Behavox, Vyopta, Intelligent Voice., Ameyo, Elastix and Dashbase., among other domestic and global players. Market share data is available for global, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America separately. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
Customization Available : Global Audio Communication Monitoring Market
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