Global Voice Analytics Market, By Application (Sentiment Analysis, Sales & Marketing Management, Risk & Fraud Detection, Call Monitoring, Others), Component (Solution, Services), Deployment Mode (Cloud, On-Premises), Organization Size (SMEs, Large Enterprises), Vertical (BFSI, Retail & E-Commerce, Telecommunication, Healthcare & Life Sciences, Government & Defense, Media & Entertainment, Energy & Utility, Travel & Hospitality, Others), Country (U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, U.A.E, Saudi Arabia, Egypt, South Africa, Israel, Rest of Middle East and Africa) Industry Trends and Forecast to 2028
Market Analysis and Insights of Voice Analytics Market
Data Bridge Market Research analyses that the voice analytics market will exhibit a CAGR of 19.20% for the forecast period of 2021-2028 and is expected to reach the market value of USD 3,224.11 million by 2028.
The quantification for speech and voice for gaining into the operations and performance of personnel in an organization while dealing with the customers is known as voice analytics. These analytics are widely used in a variety of call centers/customer contact centers where there is a requirement to analyse and improve the initial point of interaction between business and their customers.
Growing demands of organizations for the collection of information and insights from the interactions with the customers is the driving factor that will influence the market growth rate. Also, upsurge demand for better fraud as well as risk detection services will accelerate the market growth. Furthermore, growth of focus of different organizations for the improvement of their agent’s performance by consistent monitoring and collecting valuable insights, rise in the demands for this technology due to surge in the number of call centers globally are the major factors enhancing growth of the voice analytics market.
Moreover, artificial intelligence's impact on improving individualised experience will boost the beneficial opportunities for the voice analytics market growth.
However, rise in the concern about the analytics services' inaccurate nature for user authentication coupled with data privacy threats will hamper the voice analytics market growth. Also, high financial cost associated with the technology resulting in complications for attaining return on investments will obstruct the growth of market. Less awareness amongst the end-users about the availability of this technology will challenge the growth of the voice analytics market.
This voice analytics market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localised 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, geographical expansions, technological innovations in the market. To gain more info on voice analytics market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Global Voice Analytics Market Scope and Market Size
The voice analytics market is segmented on the basis of application, component, deployment type, organisation 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 market.
- On the basis of application, the voice analytics market is segmented into sentiment analysis, sales & marketing management, risk & fraud detection, call monitoring and others. Sales & marketing management have been further sub-segmented into platforms customer experience management, agent performance monitoring, sales performance management and competitive intelligence.
- On the basis of component, the voice analytics market is segmented into solutions and services. Services have been further sub-segmented into managed service and professional service.
- On the basis of deployment type, the voice analytics market is segmented into on-premises and cloud.
- On the basis of organisation size, the voice analytics market is segmented into SMEs and large enterprises.
- On the basis of vertical, the voice analytics market is segmented into BFSI, retail & e-commerce, telecommunication, healthcare and life sciences, government & defense, media & entertainment, energy & utility, travel & hospitality and others.
Voice Analytics Market Country Level Analysis
The voice analytics market is analysed and market size, volume information is provided by country, application, component, deployment type, organisation size and vertical as referenced above.
The countries covered in the voice analytics market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America dominates the voice analytics market and will continue to flourish its trend of dominance during the forecast period due to the presence of various developed economies and rise in the focus on innovations obtained from R&D and technology. Asia-Pacific will however, register the highest CAGR for this period due to the increase in the investment for research and development activities in this region.
The country section of the voice analytics market 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 such as consumption volumes, production sites and volumes, import export analysis, price trend analysis, cost of raw materials, down-stream and upstream value chain analysis are some of the major pointers used to forecast the market scenario for individual countries. Also, 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 Voice Analytics Market Share Analysis
The voice analytics 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, global presence, production sites and facilities, production capacities, 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 voice analytics market.
The major players covered in the voice analytics market report are Verint; NICE Systems Ltd.; Avaya Inc.; ThoughtSpot Inc.; Uniphore; Calabrio, Inc.; Talkdesk, Inc; RankMiner; VoiceBase, Inc.; Beyond Verbal; VoiceSense Ltd.; SESTEK; XDROID; Invoca inc.; audEERING; Micro Focus; Genesys; Voci Technologies, Inc.; Clarabridge; ZOOM International; CallMiner 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.