The article cited AMA's Global Speech Analytics Market Study explored substantial growth with CAGR of 22.1%. According the report, Adherence to regulatory and compliance standards
is one of the primary growth factors for the market. Increasing need to improve the customer journey and overall experience
is also expected to contribute significantly to the Speech Analytics market. Overall, Customer Experience Management
applications of Speech Analytics, and the growing awareness of them, is what makes this segment of the industry important to its overall growth. The presence of players such as NICE (Israel), Verint (United States), Micro Focus (United Kingdom), Avaya (United States), Genesys (United States), Google (United States), AWS (United States), Vonage (United States), OpenText (Canada) and Calabrio (United States) may see astonishing sales in this Market and certainly improve revenue growth.
AMAs Analyst on the Global Speech Analytics market identified that the demand is rising in many different parts of the world as "Use of AI and ML-based technologies to facilitate real-time actionable customer insights
". Furthermore, some recent industry insights like "In July 2020, OpenText announced the availability of its Content Services technology for Microsoft Teams. This new integration enables the use of OpenText Content Services for information governance and control. OpenText Extended ECM for Microsoft Office 365 integrates content and collaboration tools into business processes. With the announcement, OpenText adds its market-leading information governance tools and systems to Teams, making an expanded set of compliance, records management, and archiving options available to Teams users and administrators." is constantly making the industry dynamic. One of the challenges that industry facing is "Complex data ecosystem leading to data breaches and security issues"
The report provides an in-depth analysis and forecast about the industry covering the following key features:
Detailed Overview of Speech Analytics market will help deliver clients and businesses making strategies. Influencing factors that thriving demand and latest trend running in the market What is the market concentration? Is it fragmented or highly concentrated? What trends, challenges and barriers will impact the development and sizing of Speech Analytics market SWOT Analysis of profiled players and Porter's five forces & PEST Analysis for deep insights. What growth momentum or downgrade market may carry during the forecast period? Which region may tap highest market share in coming era? What focused approach and constraints are holding the Speech Analytics market tight? Which application/end-user category or Product Type [Solutions [Speech Engine, Indexing and Query Tools, Reporting and Visualization Tools, Workforce Optimization, Others and Services [Professional Services, Managed Services]] may seek incremental growth prospects? What would be the market share of key countries like Germany, USA, France, China etc.?
Market Size Estimation In market engineering method, both top-down and bottom-up approaches have been used, along with various data triangulation process, to predict and validate the market size of the Speech Analytics market and other related sub-markets covered in the study.
o Key & emerging players in the Speech Analytics market have been observed through secondary research. o The industrys supply chain and overall market size, in terms of value, have been derived through primary and secondary research processes. o All percentage shares, splits, and breakdowns have been determined using secondary sources and verified through primary sources.
Data Triangulation The overall Speech Analytics market size is calculated using market estimation process, the Speech Analytics market was further split into various segments and sub-segments. To complete the overall market engineering and arriving at the exact statistics for all segments and sub-segments, the market breakdown and data triangulation procedures have been utilized, wherever applicable. The data have been triangulated by studying various influencing factors and trends identified from both demand and supply sides of various applications involved in the study. Along with this, the Global Speech Analytics market size has been validated using both top-down and bottom-up approaches.