Speech Analytics Market in North America Analysis and Forecast (2013 – 2019)
Speech analytics, also known as audio mining, is used to spot and analyze spoken words which bring structure to interactions and reveal the information buried in customer contact center. It includes elements of automatic speech recognition, where identities of spoken words are determined. North America (NA) is one of the growing regions in the speech analytics market that accounts for the largest market share as compared to other regions in the overall market in 2014.
In North America, speech analytics solution providers are focusing on packaged solutions that can be integrated into other solutions, such as workforce management and analytics software. Speech analytics technology consists of speech engines, indexing and analysis, query engines, search tools, reports, and dashboards. Further, it is integrated with real-time analytic and guidance tools. This integration enables end-users to take the best course of action on customer conversations in a short period of time. North America has a high penetration rate because most of the analytics companies are based in the North American region only. Most companies, such as CallMiner, Genesys, and Avaya, which are based in the U.S., are focusing on the domestic market.
The major driver for this region is the high penetration rate in the media and entertainment, healthcare, government, and defense and aerospace verticals. Enterprises across diversified verticals in North America have collected vast amounts of data from various sources to understand customer needs, preferences, and drivers for customer loyalty. For example, one of the banks in Canada has been using speech analytics to improve its customer experience. The data deluge is higher due to the increase in the usage of mobile devices and broadband technology.
The main driver of the speech analytics market in the North American region is the high market penetration rate in a wide spectrum of verticals, such as telecommunication and IT, Banking, Financial Service and Insurance (BFSI) and others. Traditionally, call centers were significant only to centralize calls, reduce costs, and support the sales team, but today speech analytics technology is primarily being used in call centers to extract valuable business intelligence. The exponential increase in the number of call centers is one of the driving factors of speech analytics market in the NA region.
Market Value and Forecast
The speech analytics market is estimated to grow from $XX million in 2014 to $ XX million in 2019, at a Compound Annual Growth Rate (CAGR) of XX % for the given period. In terms of regions, the US is expected to be the biggest market in terms of revenue contribution.
Market Segmentation
The services segment is expected to grow at a CAGR of XX % from 2014 to 2019. Support and maintenance services under the services segment is expected to grow from $ XX million in 2014 to $ XX million in 2019, at a CAGR of XX % for the given period.
The solutions segment is expected to grow at a CAGR of XX % from 2014 to 2019. Reports and dashboard solutions is expected to grow rapidly at a CAGR of XX % from 2014 to 2019.
In North America, speech analytics solution providers are focusing on packaged solutions that can be integrated into other solutions, such as workforce management and analytics software. Speech analytics technology consists of speech engines, indexing and analysis, query engines, search tools, reports, and dashboards. Further, it is integrated with real-time analytic and guidance tools. This integration enables end-users to take the best course of action on customer conversations in a short period of time. North America has a high penetration rate because most of the analytics companies are based in the North American region only. Most companies, such as CallMiner, Genesys, and Avaya, which are based in the U.S., are focusing on the domestic market.
The major driver for this region is the high penetration rate in the media and entertainment, healthcare, government, and defense and aerospace verticals. Enterprises across diversified verticals in North America have collected vast amounts of data from various sources to understand customer needs, preferences, and drivers for customer loyalty. For example, one of the banks in Canada has been using speech analytics to improve its customer experience. The data deluge is higher due to the increase in the usage of mobile devices and broadband technology.
The main driver of the speech analytics market in the North American region is the high market penetration rate in a wide spectrum of verticals, such as telecommunication and IT, Banking, Financial Service and Insurance (BFSI) and others. Traditionally, call centers were significant only to centralize calls, reduce costs, and support the sales team, but today speech analytics technology is primarily being used in call centers to extract valuable business intelligence. The exponential increase in the number of call centers is one of the driving factors of speech analytics market in the NA region.
Market Value and Forecast
The speech analytics market is estimated to grow from $XX million in 2014 to $ XX million in 2019, at a Compound Annual Growth Rate (CAGR) of XX % for the given period. In terms of regions, the US is expected to be the biggest market in terms of revenue contribution.
Market Segmentation
The services segment is expected to grow at a CAGR of XX % from 2014 to 2019. Support and maintenance services under the services segment is expected to grow from $ XX million in 2014 to $ XX million in 2019, at a CAGR of XX % for the given period.
The solutions segment is expected to grow at a CAGR of XX % from 2014 to 2019. Reports and dashboard solutions is expected to grow rapidly at a CAGR of XX % from 2014 to 2019.
1 EXECUTIVE SUMMARY
2 INTRODUCTION
2.1 OBJECTIVES
2.2 MARKET DEFINITION
2.3 MARKETS COVERED
2.4 STAKEHOLDERS
2.5 RESEARCH METHODOLOGY
2.5.1 SECONDARY AND PRIMARY RESEARCH
2.5.2 DATA TRIANGULATION AND MARKET FORECASTING
2.6 ASSUMPTIONS
3 MARKET DYNAMICS
3.1 MARKET SNAPSHOT
3.2 MARKET SEGMENTATION
3.3 BUSINESS ECOSYSTEM
3.4 MARKET DYNAMICS
3.4.1 DRIVERS
3.4.1.1 Increasing Number of Call Centres
3.4.1.2 Versatile Utility
3.4.2 RESTRAINTS
3.4.2.1 Increasing Cost
4 NORTH AMERICAN SPEECH ANALYTICS MARKET, BY COUNTRY
5 NORTH AMERICAN SPEECH ANALYTICS MARKET, BY TYPE
6 NORTH AMERICAN SPEECH ANALYTICS MARKET, BY SOLUTION
7 NORTH AMERICAN SPEECH ANALYTICS MARKET, BY SERVICE
8 NORTH AMERICAN SPEECH ANALYTICS MARKET, BY APPLICATION
9 NORTH AMERICAN SPEECH ANALYTICS MARKET, BY VERTICAL
9.1 BANKING, FINANCIAL SERVICE AND INSURANCE (BFSI)
9.2 CONSUMER GOODS AND RETAIL
9.3 HEALTHCARE AND LIFE SCIENCES
9.4 GOVERNMENT, DEFENSE, AND AEROSPACE
9.5 MANUFACTURING
9.6 TRANSPORTATION AND LOGISTICS
9.7 TRAVEL AND HOSPITALITY
9.8 TELECOMMUNICATION AND IT
9.9 MEDIA AND ENTERTAINMENT
9.10 ENERGY AND UTILITIES (PUBLIC SECTOR)
9.11 OUTSOURCING
9.12 OTHERS
10 COMPETITIVE LANDSCAPE
10.1 SPEECH ANALYTICS IN NORTH AMERICA: MARKET SHARE
11 RECENT DEVELOPMENTS
12 COMPANY PROFILES
12.1 NICE SYSTEMS
12.2 VERINT SYSTEMS INC.
12.3 CALLMINER
12.4 NEXIDIA INC
12.5 HP AUTONOMY
2 INTRODUCTION
2.1 OBJECTIVES
2.2 MARKET DEFINITION
2.3 MARKETS COVERED
2.4 STAKEHOLDERS
2.5 RESEARCH METHODOLOGY
2.5.1 SECONDARY AND PRIMARY RESEARCH
2.5.2 DATA TRIANGULATION AND MARKET FORECASTING
2.6 ASSUMPTIONS
3 MARKET DYNAMICS
3.1 MARKET SNAPSHOT
3.2 MARKET SEGMENTATION
3.3 BUSINESS ECOSYSTEM
3.4 MARKET DYNAMICS
3.4.1 DRIVERS
3.4.1.1 Increasing Number of Call Centres
3.4.1.2 Versatile Utility
3.4.2 RESTRAINTS
3.4.2.1 Increasing Cost
4 NORTH AMERICAN SPEECH ANALYTICS MARKET, BY COUNTRY
5 NORTH AMERICAN SPEECH ANALYTICS MARKET, BY TYPE
6 NORTH AMERICAN SPEECH ANALYTICS MARKET, BY SOLUTION
7 NORTH AMERICAN SPEECH ANALYTICS MARKET, BY SERVICE
8 NORTH AMERICAN SPEECH ANALYTICS MARKET, BY APPLICATION
9 NORTH AMERICAN SPEECH ANALYTICS MARKET, BY VERTICAL
9.1 BANKING, FINANCIAL SERVICE AND INSURANCE (BFSI)
9.2 CONSUMER GOODS AND RETAIL
9.3 HEALTHCARE AND LIFE SCIENCES
9.4 GOVERNMENT, DEFENSE, AND AEROSPACE
9.5 MANUFACTURING
9.6 TRANSPORTATION AND LOGISTICS
9.7 TRAVEL AND HOSPITALITY
9.8 TELECOMMUNICATION AND IT
9.9 MEDIA AND ENTERTAINMENT
9.10 ENERGY AND UTILITIES (PUBLIC SECTOR)
9.11 OUTSOURCING
9.12 OTHERS
10 COMPETITIVE LANDSCAPE
10.1 SPEECH ANALYTICS IN NORTH AMERICA: MARKET SHARE
11 RECENT DEVELOPMENTS
12 COMPANY PROFILES
12.1 NICE SYSTEMS
12.2 VERINT SYSTEMS INC.
12.3 CALLMINER
12.4 NEXIDIA INC
12.5 HP AUTONOMY
LIST OF TABLES
Table 1 SPEECH ANALYTICS MARKET IN NORTH AMERICA, 2013-2019 (USD MILLION, Y-O-Y %)
Table 2 SPEECH ANALYTICS MARKET BY COUNTRY, 2013-2019 (USD MILLION)
Table 3 SPEECH ANALYTICS MARKET BY TYPE, 2013-2019 (USD MILLION)
Table 4 SPEECH ANALYTICS MARKET BY SOLUTION, 2013-2019 (USD MILLION)
Table 5 SPEECH ANALYTICS MARKET, BY SERVICE, 2013-2019 (USD MILLION)
Table 6 SPEECH ANALYTICS MARKET, BY APPLICATION, 2013-2019 (USD MILLION)
Table 7 SPEECH ANALYTICS MARKET, BY VERTICAL, 2013-2019 (USD MILLION)
Table 8 SPEECH ANALYTICS MARKET FOR BFSI, BY APPLICATION, 2013-2019 (USD MILLION)
Table 9 SPEECH ANALYTICS MARKET FOR BFSI, BY SOLUTION, 2013-2019 (USD MILLION)
Table 10 SPEECH ANALYTICS MARKET FOR BFSI, BY SERVICE, 2013-2019 (USD MILLION)
Table 11 SPEECH ANALYTICS MARKET FOR GOODS AND RETAIL, BY APPLICATION, 2013-2019 (USD MILLION)
Table 12 SPEECH ANALYTICS MARKET FOR CONSUMER GOODS AND RETAIL, BY SOLUTION, 2013-2019 (USD MILLION)
Table 13 SPEECH ANALYTICS MARKET FOR CONSUMER GOODS AND RETAIL, BY SERVICE, 2013-2019 (USD MILLION)
Table 14 SPEECH ANALYTICS MARKET FOR HEALTHCARE AND LIFE SCIENCES, BY APPLICATION, 2013-2019 (USD MILLION)
Table 15 SPEECH ANALYTICS MARKET FOR HEALTHCARE AND LIFE SCIENCES, BY SOLUTION, 2013-2019 (USD MILLION)
Table 16 SPEECH ANALYTICS FOR HEALTHCARE AND LIFE SCIENCES, BY SERVICE, 2013-2019 (USD MILLION)
Table 17 SPEECH ANALYTICS MARKET FOR GOVERNMENT, DEFENSE, AND AEROSPACE, BY APPLICATION, 2013-2019 (USD MILLION)
Table 18 SPEECH ANALYTICS MARKET FOR GOVERNMENT, DEFENSE, AND AEROSPACE, BY SOLUTION, 2013-2019 (USD MILLION)
Table 19 SPEECH ANALYTICS MARKET FOR GOVERNMENT, DEFENSE, AND AEROSPACE, BY SERVICE, 2013-2019 (USD MILLION)
Table 20 SPEECH ANALYTICS MARKET FOR MANUFACTURING, BY APPLICATION, 2013-2019 (USD MILLION)
Table 21 SPEECH ANALYTICS MARKET FOR MANUFACTURING, BY SOLUTION, 2013-2019 (USD MILLION)
Table 22 SPEECH ANALYTICS MARKET FOR MANUFACTURING ,BY SERVICE, 2013-2019 (USD MILLION)
Table 23 SPEECH ANALYTICS MARKET FOR TRANSPORTATION AND LOGISTICS, BY APPLICATION, 2013-2019 (USD MILLION)
Table 24 SPEECH ANALYTICS MARKET FOR TRANSPORTATION AND LOGISTICS, BY SOLUTION, 2013-2019 (USD MILLION)
Table 25 SPEECH ANALYTICS MARKET FOR TRANSPORTATION AND LOGISTICS, BY SERVICE, 2013-2019 (USD MILLION)
Table 26 SPEECH ANALYTICS MARKET FOR TRAVEL AND HOSPITALITY, BY APPLICATION, 2013-2019 (USD MILLION)
Table 27 SPEECH ANALYTICS MARKET FOR TRAVEL AND HOSPITALITY, BY SOLUTION, 2013-2019 (USD MILLION)
Table 28 SPEECH ANALYTICS MARKET FOR TRAVEL AND HOSPITALITY, BY SERVICE, 2013-2019 (USD MILLION)
Table 29 SPEECH ANALYTICS MARKET FOR TELECOMMUNICATION AND IT, BY APPLICATION, 2013-2019 (USD MILLION)
Table 30 SPEECH ANALYTICS MARKET FOR TELECOMMUNICATION AND IT, BY SOLUTION, 2013-2019 (USD MILLION)
Table 31 SPEECH ANALYTICS MARKET FOR TELECOMMUNICATION AND IT, BY SERVICE, 2013-2019 (USD MILLION)
Table 32 SPEECH ANALYTICS MARKET FOR MEDIA AND ENTERTAINMENT, BY APPLICATION, 2013-2019 (USD MILLION)
Table 33 SPEECH ANALYTICS MARKET FOR MEDIA AND ENTERTAINMENT, BY SOLUTION, 2013-2019 (USD MILLION)
Table 34 SPEECH ANALYTICS MARKET FOR MEDIA AND ENTERTAINMENT, BY SERVICE, 2013-2019 (USD MILLION)
Table 35 SPEECH ANALYTICS MARKET FOR ENERGY AND UTILITIES (PUBLIC SECTOR), BY APPLICATION, 2013-2019 (USD MILLION)
Table 36 SPEECH ANALYTICS MARKET FOR ENERGY AND UTILITIES (PUBLIC SECTOR), BY SOLUTION, 2013-2019 (USD MILLION)
Table 37 SPEECH ANALYTICS MARKET FOR ENERGY AND UTILITIES (PUBLIC SECTOR), BY SERVICE, 2013-2019 (USD MILLION)
Table 38 SPEECH ANALYTICS MARKET FOR OUTSOURCING, BY APPLICATION, 2013-2019 (USD MILLION)
Table 39 SPEECH ANALYTICS MARKET FOR OUTSOURCING, BY SOLUTION, 2013-2019 (USD MILLION)
Table 40 SPEECH ANALYTICS MARKET FOR OUTSOURCING, BY SERVICE, 2013-2019 (USD MILLION)
Table 41 SPEECH ANALYTICS MARKET FOR OTHERS, BY APPLICATION, 2013-2019 (USD MILLION)
Table 42 SPEECH ANALYTICS MARKET FOR OTHERS, BY SOLUTION, 2013-2019 (USD MILLION)
Table 43 SPEECH ANALYTICS MARKET FOR OTHERS , BY SERVICE, 2013-2019 (USD MILLION)
Table 1 SPEECH ANALYTICS MARKET IN NORTH AMERICA, 2013-2019 (USD MILLION, Y-O-Y %)
Table 2 SPEECH ANALYTICS MARKET BY COUNTRY, 2013-2019 (USD MILLION)
Table 3 SPEECH ANALYTICS MARKET BY TYPE, 2013-2019 (USD MILLION)
Table 4 SPEECH ANALYTICS MARKET BY SOLUTION, 2013-2019 (USD MILLION)
Table 5 SPEECH ANALYTICS MARKET, BY SERVICE, 2013-2019 (USD MILLION)
Table 6 SPEECH ANALYTICS MARKET, BY APPLICATION, 2013-2019 (USD MILLION)
Table 7 SPEECH ANALYTICS MARKET, BY VERTICAL, 2013-2019 (USD MILLION)
Table 8 SPEECH ANALYTICS MARKET FOR BFSI, BY APPLICATION, 2013-2019 (USD MILLION)
Table 9 SPEECH ANALYTICS MARKET FOR BFSI, BY SOLUTION, 2013-2019 (USD MILLION)
Table 10 SPEECH ANALYTICS MARKET FOR BFSI, BY SERVICE, 2013-2019 (USD MILLION)
Table 11 SPEECH ANALYTICS MARKET FOR GOODS AND RETAIL, BY APPLICATION, 2013-2019 (USD MILLION)
Table 12 SPEECH ANALYTICS MARKET FOR CONSUMER GOODS AND RETAIL, BY SOLUTION, 2013-2019 (USD MILLION)
Table 13 SPEECH ANALYTICS MARKET FOR CONSUMER GOODS AND RETAIL, BY SERVICE, 2013-2019 (USD MILLION)
Table 14 SPEECH ANALYTICS MARKET FOR HEALTHCARE AND LIFE SCIENCES, BY APPLICATION, 2013-2019 (USD MILLION)
Table 15 SPEECH ANALYTICS MARKET FOR HEALTHCARE AND LIFE SCIENCES, BY SOLUTION, 2013-2019 (USD MILLION)
Table 16 SPEECH ANALYTICS FOR HEALTHCARE AND LIFE SCIENCES, BY SERVICE, 2013-2019 (USD MILLION)
Table 17 SPEECH ANALYTICS MARKET FOR GOVERNMENT, DEFENSE, AND AEROSPACE, BY APPLICATION, 2013-2019 (USD MILLION)
Table 18 SPEECH ANALYTICS MARKET FOR GOVERNMENT, DEFENSE, AND AEROSPACE, BY SOLUTION, 2013-2019 (USD MILLION)
Table 19 SPEECH ANALYTICS MARKET FOR GOVERNMENT, DEFENSE, AND AEROSPACE, BY SERVICE, 2013-2019 (USD MILLION)
Table 20 SPEECH ANALYTICS MARKET FOR MANUFACTURING, BY APPLICATION, 2013-2019 (USD MILLION)
Table 21 SPEECH ANALYTICS MARKET FOR MANUFACTURING, BY SOLUTION, 2013-2019 (USD MILLION)
Table 22 SPEECH ANALYTICS MARKET FOR MANUFACTURING ,BY SERVICE, 2013-2019 (USD MILLION)
Table 23 SPEECH ANALYTICS MARKET FOR TRANSPORTATION AND LOGISTICS, BY APPLICATION, 2013-2019 (USD MILLION)
Table 24 SPEECH ANALYTICS MARKET FOR TRANSPORTATION AND LOGISTICS, BY SOLUTION, 2013-2019 (USD MILLION)
Table 25 SPEECH ANALYTICS MARKET FOR TRANSPORTATION AND LOGISTICS, BY SERVICE, 2013-2019 (USD MILLION)
Table 26 SPEECH ANALYTICS MARKET FOR TRAVEL AND HOSPITALITY, BY APPLICATION, 2013-2019 (USD MILLION)
Table 27 SPEECH ANALYTICS MARKET FOR TRAVEL AND HOSPITALITY, BY SOLUTION, 2013-2019 (USD MILLION)
Table 28 SPEECH ANALYTICS MARKET FOR TRAVEL AND HOSPITALITY, BY SERVICE, 2013-2019 (USD MILLION)
Table 29 SPEECH ANALYTICS MARKET FOR TELECOMMUNICATION AND IT, BY APPLICATION, 2013-2019 (USD MILLION)
Table 30 SPEECH ANALYTICS MARKET FOR TELECOMMUNICATION AND IT, BY SOLUTION, 2013-2019 (USD MILLION)
Table 31 SPEECH ANALYTICS MARKET FOR TELECOMMUNICATION AND IT, BY SERVICE, 2013-2019 (USD MILLION)
Table 32 SPEECH ANALYTICS MARKET FOR MEDIA AND ENTERTAINMENT, BY APPLICATION, 2013-2019 (USD MILLION)
Table 33 SPEECH ANALYTICS MARKET FOR MEDIA AND ENTERTAINMENT, BY SOLUTION, 2013-2019 (USD MILLION)
Table 34 SPEECH ANALYTICS MARKET FOR MEDIA AND ENTERTAINMENT, BY SERVICE, 2013-2019 (USD MILLION)
Table 35 SPEECH ANALYTICS MARKET FOR ENERGY AND UTILITIES (PUBLIC SECTOR), BY APPLICATION, 2013-2019 (USD MILLION)
Table 36 SPEECH ANALYTICS MARKET FOR ENERGY AND UTILITIES (PUBLIC SECTOR), BY SOLUTION, 2013-2019 (USD MILLION)
Table 37 SPEECH ANALYTICS MARKET FOR ENERGY AND UTILITIES (PUBLIC SECTOR), BY SERVICE, 2013-2019 (USD MILLION)
Table 38 SPEECH ANALYTICS MARKET FOR OUTSOURCING, BY APPLICATION, 2013-2019 (USD MILLION)
Table 39 SPEECH ANALYTICS MARKET FOR OUTSOURCING, BY SOLUTION, 2013-2019 (USD MILLION)
Table 40 SPEECH ANALYTICS MARKET FOR OUTSOURCING, BY SERVICE, 2013-2019 (USD MILLION)
Table 41 SPEECH ANALYTICS MARKET FOR OTHERS, BY APPLICATION, 2013-2019 (USD MILLION)
Table 42 SPEECH ANALYTICS MARKET FOR OTHERS, BY SOLUTION, 2013-2019 (USD MILLION)
Table 43 SPEECH ANALYTICS MARKET FOR OTHERS , BY SERVICE, 2013-2019 (USD MILLION)
LIST OF FIGURES
Figure 1 DATA TRIANGULATION, TOP-DOWN AND BOTTOM-UP APPROACH
Figure 2 SPEECH ANALYTICS MARKET IN NORTH AMERICA, 2013-2019 (USD MILLION, Y-O-Y %)
Figure 3 SPEECH ANALYTICS MARKET IN NORTH AMERICA: SEGMENTATION
Figure 4 SPEECH ANALYTICS MARKET IN NORTH AMERICA: MARKET ECOSYSTEM
Figure 5 SPEECH ANALYTICS MARKET, BY COUNTRY, 2013-2019
Figure 6 SPEECH ANALYTICS MARKET, BY TYPE, 2013-2019
Figure 7 SPEECH ANALYTICS MARKET, BY SOLUTION, 2013-2019
Figure 8 SPEECH ANALYTICS MARKET, BY SERVICE, 2013-2019
Figure 9 SPEECH ANALYTICS MARKET, BY APPLICATION, 2013-2019
Figure 10 SPEECH ANALYTICS: MARKET SHARE 2013
Figure 1 DATA TRIANGULATION, TOP-DOWN AND BOTTOM-UP APPROACH
Figure 2 SPEECH ANALYTICS MARKET IN NORTH AMERICA, 2013-2019 (USD MILLION, Y-O-Y %)
Figure 3 SPEECH ANALYTICS MARKET IN NORTH AMERICA: SEGMENTATION
Figure 4 SPEECH ANALYTICS MARKET IN NORTH AMERICA: MARKET ECOSYSTEM
Figure 5 SPEECH ANALYTICS MARKET, BY COUNTRY, 2013-2019
Figure 6 SPEECH ANALYTICS MARKET, BY TYPE, 2013-2019
Figure 7 SPEECH ANALYTICS MARKET, BY SOLUTION, 2013-2019
Figure 8 SPEECH ANALYTICS MARKET, BY SERVICE, 2013-2019
Figure 9 SPEECH ANALYTICS MARKET, BY APPLICATION, 2013-2019
Figure 10 SPEECH ANALYTICS: MARKET SHARE 2013
