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Speech Analytics Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027

August 2022 | 145 pages | ID: SBDB2FF39D05EN
IMARC Group

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The global speech analytics market size reached US$ 1.8 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 5.9 Billion by 2027, exhibiting a growth rate (CAGR) of 22% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use industries. These insights are included in the report as a major market contributor.

Speech analytics refers to the automated process of extracting audio recordings or live calls and analyzing them to find relevant business insights. It is performed using specialized software that can understand the spoken word of many dialects and translate it into text. It is widely utilized in healthcare and banking, financial services, and insurance (BFSI) sectors, which have compliance requirements regarding customer data storing and searching. Nowadays, it can be combined with customer relationship management (CRM) strategies to help businesses increase their bottom line and improve customer retention rates.

Speech Analytics Market Trends:
Contact centers have become a major source for gaining customer feedback. However, the volume of call recordings exceeds the contact center’s ability to review and analyze them manually. This represents one of the significant factors influencing the demand for speech analytics for automatically providing insights about customer satisfaction, competitive intelligence, service issues, agent performance, and campaign effectiveness. Additionally, due to the escalating need for risk and compliance management, organizations worldwide are adopting speech analytics to help retain existing customers, reduce the need for additional marketing, advertising, and on-boarding costs for acquiring new customers. Moreover, speech analytics is gaining traction in the information technology (IT) and telecommunication sector to help organizations expand their consumer base and overall profits. Apart from this, several market players are providing economical, cloud-based solutions, which is anticipated to promote the adoption of speech analytics across small and medium-sized enterprises (SMEs) worldwide.

Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global speech analytics market report, along with forecasts at the global, regional and country level from 2022-2027. Our report has categorized the market based on type, deployment, enterprise size and end use.

Breakup by Type:

Solution
Service

Breakup by Deployment:

On-premises
Cloud-based

Breakup by Enterprise Size:

Small and Medium Enterprises
Large Enterprises

Breakup by End Use:

BFSI
IT and Telecommunication
Retail
Healthcare
Government
Hospitality
Others

Breakup by Region:

North America
United States
Canada
Asia-Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa

Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players being Almawave S.p.A., ASC Technologies AG, Avaya, Calabrio, Inc., CallMiner, Clarabridge, GemaTech, Genesys, inContact (NICE Systems), OnviSource Inc., OPEX Hosting and Verint System Inc.

Key Questions Answered in This Report:
How has the global speech analytics market performed so far and how will it perform in the coming years?
What has been the impact of COVID-19 on the global speech analytics market?
What are the key regional markets?
What is the breakup of the market based on the type?
What is the breakup of the market based on the deployment?
What is the breakup of the market based on the enterprise size?
What is the breakup of the market based on the end use?
What are the various stages in the value chain of the industry?
What are the key driving factors and challenges in the industry?
What is the structure of the global speech analytics market and who are the key players?
What is the degree of competition in the industry?
1 PREFACE

2 SCOPE AND METHODOLOGY

2.1 Objectives of the Study
2.2 Stakeholders
2.3 Data Sources
  2.3.1 Primary Sources
  2.3.2 Secondary Sources
2.4 Market Estimation
  2.4.1 Bottom-Up Approach
  2.4.2 Top-Down Approach
2.5 Forecasting Methodology

3 EXECUTIVE SUMMARY

4 INTRODUCTION

4.1 Overview
4.2 Key Industry Trends

5 GLOBAL SPEECH ANALYTICS MARKET

5.1 Market Overview
5.2 Market Performance
5.3 Impact of COVID-19
5.4 Market Forecast

6 MARKET BREAKUP BY TYPE

6.1 Solution
  6.1.1 Market Trends
  6.1.2 Market Forecast
6.2 Service
  6.2.1 Market Trends
  6.2.2 Market Forecast

7 MARKET BREAKUP BY DEPLOYMENT

7.1 On-premises
  7.1.1 Market Trends
  7.1.2 Market Forecast
7.2 Cloud-based
  7.2.1 Market Trends
  7.2.2 Market Forecast

8 MARKET BREAKUP BY ENTERPRISE SIZE

8.1 Small and Medium Enterprises
  8.1.1 Market Trends
  8.1.2 Market Forecast
8.2 Large Enterprises
  8.2.1 Market Trends
  8.2.2 Market Forecast

9 MARKET BREAKUP BY END USE

9.1 BFSI
  9.1.1 Market Trends
  9.1.2 Market Forecast
9.2 IT and Telecommunication
  9.2.1 Market Trends
  9.2.2 Market Forecast
9.3 Retail
  9.3.1 Market Trends
  9.3.2 Market Forecast
9.4 Healthcare
  9.4.1 Market Trends
  9.4.2 Market Forecast
9.5 Government
  9.5.1 Market Trends
  9.5.2 Market Forecast
9.6 Hospitality
  9.6.1 Market Trends
  9.6.2 Market Forecast
9.7 Others
  9.7.1 Market Trends
  9.7.2 Market Forecast

10 MARKET BREAKUP BY REGION

10.1 North America
  10.1.1 United States
    10.1.1.1 Market Trends
    10.1.1.2 Market Forecast
  10.1.2 Canada
    10.1.2.1 Market Trends
    10.1.2.2 Market Forecast
10.2 Asia-Pacific
  10.2.1 China
    10.2.1.1 Market Trends
    10.2.1.2 Market Forecast
  10.2.2 Japan
    10.2.2.1 Market Trends
    10.2.2.2 Market Forecast
  10.2.3 India
    10.2.3.1 Market Trends
    10.2.3.2 Market Forecast
  10.2.4 South Korea
    10.2.4.1 Market Trends
    10.2.4.2 Market Forecast
  10.2.5 Australia
    10.2.5.1 Market Trends
    10.2.5.2 Market Forecast
  10.2.6 Indonesia
    10.2.6.1 Market Trends
    10.2.6.2 Market Forecast
  10.2.7 Others
    10.2.7.1 Market Trends
    10.2.7.2 Market Forecast
10.3 Europe
  10.3.1 Germany
    10.3.1.1 Market Trends
    10.3.1.2 Market Forecast
  10.3.2 France
    10.3.2.1 Market Trends
    10.3.2.2 Market Forecast
  10.3.3 United Kingdom
    10.3.3.1 Market Trends
    10.3.3.2 Market Forecast
  10.3.4 Italy
    10.3.4.1 Market Trends
    10.3.4.2 Market Forecast
  10.3.5 Spain
    10.3.5.1 Market Trends
    10.3.5.2 Market Forecast
  10.3.6 Russia
    10.3.6.1 Market Trends
    10.3.6.2 Market Forecast
  10.3.7 Others
    10.3.7.1 Market Trends
    10.3.7.2 Market Forecast
10.4 Latin America
  10.4.1 Brazil
    10.4.1.1 Market Trends
    10.4.1.2 Market Forecast
  10.4.2 Mexico
    10.4.2.1 Market Trends
    10.4.2.2 Market Forecast
  10.4.3 Others
    10.4.3.1 Market Trends
    10.4.3.2 Market Forecast
10.5 Middle East and Africa
  10.5.1 Market Trends
  10.5.2 Market Breakup by Country
  10.5.3 Market Forecast

11 SWOT ANALYSIS

11.1 Overview
11.2 Strengths
11.3 Weaknesses
11.4 Opportunities
11.5 Threats

12 VALUE CHAIN ANALYSIS

13 PORTERS FIVE FORCES ANALYSIS

13.1 Overview
13.2 Bargaining Power of Buyers
13.3 Bargaining Power of Suppliers
13.4 Degree of Competition
13.5 Threat of New Entrants
13.6 Threat of Substitutes

14 PRICE ANALYSIS

15 COMPETITIVE LANDSCAPE

15.1 Market Structure
15.2 Key Players
15.3 Profiles of Key Players
  15.3.1 Almawave S.p.A.
    15.3.1.1 Company Overview
    15.3.1.2 Product Portfolio
    15.3.1.3 Financials
  15.3.2 ASC Technologies AG
    15.3.2.1 Company Overview
    15.3.2.2 Product Portfolio
    15.3.2.3 Financials
  15.3.3 Avaya
    15.3.3.1 Company Overview
    15.3.3.2 Product Portfolio
  15.3.4 Calabrio, Inc.
    15.3.4.1 Company Overview
    15.3.4.2 Product Portfolio
  15.3.5 CallMiner
    15.3.5.1 Company Overview
    15.3.5.2 Product Portfolio
  15.3.6 Clarabridge
    15.3.6.1 Company Overview
    15.3.6.2 Product Portfolio
  15.3.7 GemaTech
    15.3.7.1 Company Overview
    15.3.7.2 Product Portfolio
    15.3.7.3 Financials
  15.3.8 Genesys
    15.3.8.1 Company Overview
    15.3.8.2 Product Portfolio
  15.3.9 inContact (NICE Systems)
    15.3.9.1 Company Overview
    15.3.9.2 Product Portfolio
  15.3.10 OnviSource Inc.
    15.3.10.1 Company Overview
    15.3.10.2 Product Portfolio
  15.3.11 OPEX Hosting
    15.3.11.1 Company Overview
    15.3.11.2 Product Portfolio
  15.3.12 Verint System Inc.
    15.3.12.1 Company Overview
    15.3.12.2 Product Portfolio
    15.3.12.3 Financials
    15.3.12.4 SWOT Analysis

LIST OF TABLES

Table 1: Global: Speech Analytics Market: Key Industry Highlights, 2021 and 2027
Table 2: Global: Speech Analytics Market Forecast: Breakup by Type (in Million US$), 2022-2027
Table 3: Global: Speech Analytics Market Forecast: Breakup by Deployment (in Million US$), 2022-2027
Table 4: Global: Speech Analytics Market Forecast: Breakup by Enterprise Size (in Million US$), 2022-2027
Table 5: Global: Speech Analytics Market Forecast: Breakup by End Use (in Million US$), 2022-2027
Table 6: Global: Speech Analytics Market Forecast: Breakup by Region (in Million US$), 2022-2027
Table 7: Global: Speech Analytics Market: Competitive Structure
Table 8: Global: Speech Analytics Market: Key Players

LIST OF FIGURES

Figure 1: Global: Speech Analytics Market: Major Drivers and Challenges
Figure 2: Global: Speech Analytics Market: Sales Value (in Billion US$), 2016-2021
Figure 3: Global: Speech Analytics Market Forecast: Sales Value (in Billion US$), 2022-2027
Figure 4: Global: Speech Analytics Market: Breakup by Type (in %), 2021
Figure 5: Global: Speech Analytics Market: Breakup by Deployment (in %), 2021
Figure 6: Global: Speech Analytics Market: Breakup by Enterprise Size (in %), 2021
Figure 7: Global: Speech Analytics Market: Breakup by End Use (in %), 2021
Figure 8: Global: Speech Analytics Market: Breakup by Region (in %), 2021
Figure 9: Global: Speech Analytics (Solution) Market: Sales Value (in Million US$), 2016 & 2021
Figure 10: Global: Speech Analytics (Solution) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 11: Global: Speech Analytics (Service) Market: Sales Value (in Million US$), 2016 & 2021
Figure 12: Global: Speech Analytics (Service) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 13: Global: Speech Analytics (On-premises) Market: Sales Value (in Million US$), 2016 & 2021
Figure 14: Global: Speech Analytics (On-premises) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 15: Global: Speech Analytics (Cloud-based) Market: Sales Value (in Million US$), 2016 & 2021
Figure 16: Global: Speech Analytics (Cloud-based) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 17: Global: Speech Analytics (Small and Medium Enterprises) Market: Sales Value (in Million US$), 2016 & 2021
Figure 18: Global: Speech Analytics (Small and Medium Enterprises) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 19: Global: Speech Analytics (Large Enterprises) Market: Sales Value (in Million US$), 2016 & 2021
Figure 20: Global: Speech Analytics (Large Enterprises) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 21: Global: Speech Analytics (BFSI) Market: Sales Value (in Million US$), 2016 & 2021
Figure 22: Global: Speech Analytics (BFSI) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 23: Global: Speech Analytics (IT and Telecommunication) Market: Sales Value (in Million US$), 2016 & 2021
Figure 24: Global: Speech Analytics (IT and Telecommunication) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 25: Global: Speech Analytics (Retail) Market: Sales Value (in Million US$), 2016 & 2021
Figure 26: Global: Speech Analytics (Retail) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 27: Global: Speech Analytics (Healthcare) Market: Sales Value (in Million US$), 2016 & 2021
Figure 28: Global: Speech Analytics (Healthcare) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 29: Global: Speech Analytics (Government) Market: Sales Value (in Million US$), 2016 & 2021
Figure 30: Global: Speech Analytics (Government) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 31: Global: Speech Analytics (Hospitality) Market: Sales Value (in Million US$), 2016 & 2021
Figure 32: Global: Speech Analytics (Hospitality) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 33: Global: Speech Analytics (Other End Uses) Market: Sales Value (in Million US$), 2016 & 2021
Figure 34: Global: Speech Analytics (Other End Uses) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 35: North America: Speech Analytics Market: Sales Value (in Million US$), 2016 & 2021
Figure 36: North America: Speech Analytics Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 37: United States: Speech Analytics Market: Sales Value (in Million US$), 2016 & 2021
Figure 38: United States: Speech Analytics Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 39: Canada: Speech Analytics Market: Sales Value (in Million US$), 2016 & 2021
Figure 40: Canada: Speech Analytics Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 41: Asia-Pacific: Speech Analytics Market: Sales Value (in Million US$), 2016 & 2021
Figure 42: Asia-Pacific: Speech Analytics Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 43: China: Speech Analytics Market: Sales Value (in Million US$), 2016 & 2021
Figure 44: China: Speech Analytics Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 45: Japan: Speech Analytics Market: Sales Value (in Million US$), 2016 & 2021
Figure 46: Japan: Speech Analytics Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 47: India: Speech Analytics Market: Sales Value (in Million US$), 2016 & 2021
Figure 48: India: Speech Analytics Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 49: South Korea: Speech Analytics Market: Sales Value (in Million US$), 2016 & 2021
Figure 50: South Korea: Speech Analytics Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 51: Australia: Speech Analytics Market: Sales Value (in Million US$), 2016 & 2021
Figure 52: Australia: Speech Analytics Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 53: Indonesia: Speech Analytics Market: Sales Value (in Million US$), 2016 & 2021
Figure 54: Indonesia: Speech Analytics Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 55: Others: Speech Analytics Market: Sales Value (in Million US$), 2016 & 2021
Figure 56: Others: Speech Analytics Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 57: Europe: Speech Analytics Market: Sales Value (in Million US$), 2016 & 2021
Figure 58: Europe: Speech Analytics Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 59: Germany: Speech Analytics Market: Sales Value (in Million US$), 2016 & 2021
Figure 60: Germany: Speech Analytics Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 61: France: Speech Analytics Market: Sales Value (in Million US$), 2016 & 2021
Figure 62: France: Speech Analytics Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 63: United Kingdom: Speech Analytics Market: Sales Value (in Million US$), 2016 & 2021
Figure 64: United Kingdom: Speech Analytics Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 65: Italy: Speech Analytics Market: Sales Value (in Million US$), 2016 & 2021
Figure 66: Italy: Speech Analytics Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 67: Spain: Speech Analytics Market: Sales Value (in Million US$), 2016 & 2021
Figure 68: Spain: Speech Analytics Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 69: Russia: Speech Analytics Market: Sales Value (in Million US$), 2016 & 2021
Figure 70: Russia: Speech Analytics Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 71: Others: Speech Analytics Market: Sales Value (in Million US$), 2016 & 2021
Figure 72: Others: Speech Analytics Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 73: Latin America: Speech Analytics Market: Sales Value (in Million US$), 2016 & 2021
Figure 74: Latin America: Speech Analytics Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 75: Brazil: Speech Analytics Market: Sales Value (in Million US$), 2016 & 2021
Figure 76: Brazil: Speech Analytics Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 77: Mexico: Speech Analytics Market: Sales Value (in Million US$), 2016 & 2021
Figure 78: Mexico: Speech Analytics Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 79: Others: Speech Analytics Market: Sales Value (in Million US$), 2016 & 2021
Figure 80: Others: Speech Analytics Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 81: Middle East and Africa: Speech Analytics Market: Sales Value (in Million US$), 2016 & 2021
Figure 82: Middle East and Africa: Speech Analytics Market: Breakup by Country (in %), 2021
Figure 83: Middle East and Africa: Speech Analytics Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 84: Global: Speech Analytics Industry: SWOT Analysis
Figure 85: Global: Speech Analytics Industry: Value Chain Analysis
Figure 86: Global: Speech Analytics Industry: Porter's Five Forces Analysis


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