Speech Analytics Market Competitive Intelligence and
Tracking Report Till 2026
Speech Analytics Market research provides industry analysis by
type, manufacturer, application along with key factors influencing
the growth of the market which include growth drivers, restraints,
opportunities and challenges, strategically profile key players and
comprehensively
analyze
their
market
share
and
core
competencies.
Speech analytics technology can be utilized to analyze audio data and to gather information
related to customer. This helps in improvement of communication and future interaction and
overall customer experience. The key application segment of speech analytics technology is
contact center due to the requirement to provide better customer satisfaction. This technology is
mainly used for detection of emotion, stress, the reason behind the call, and their satisfaction
level, that can be identified through customer’s voice. It can also be used to recognize whether
the
customer
is
disappointed
or
unsatisfied
with
the
provided
service.
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The major drivers responsible for growth of global speech analytics technology market are
increasing number of call centers, which demands for more customer satisfaction. According to
Coherent Market Insights analysis, in 2015, the U.S. has over 60% of contact centers and the
global contact center industry is expected to grow at a CAGR of 12% by 2025. Moreover in 2015,
the mass market contact center dominated the global contact center market with over 40%
share. Universal center and B2B center accounted about 30% and 32% share of global contact
center market respectively, in 2015. These factors are responsible for increasing demand for
advanced technology, customer relationship management (CRM), and increasing requirement to
provide accurate solutions. These are some major driving factors that are expected to escalate