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Speech Analytics Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026

Market Overview:

The global speech analytics market exhibited strong growth during 2015-2020. Looking forward, IMARC Group expects the market to grow at a CAGR of around 22% during 2021-2026. 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 for growth at the global, regional and country level from 2021-2026. Our report has categorized the market based on region, 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 Figures

Figure 1: Global: Speech Analytics Market: Major Drivers and Challenges
Figure 2: Global: Speech Analytics Market: Sales Value (in Billion US$), 2015-2020
Figure 3: Global: Speech Analytics Market Forecast: Sales Value (in Billion US$), 2021-2026
Figure 4: Global: Speech Analytics Market: Breakup by Type (in %), 2020
Figure 5: Global: Speech Analytics Market: Breakup by Deployment (in %), 2020
Figure 6: Global: Speech Analytics Market: Breakup by Enterprise Size (in %), 2020
Figure 7: Global: Speech Analytics Market: Breakup by End Use (in %), 2020
Figure 8: Global: Speech Analytics Market: Breakup by Region (in %), 2020
Figure 9: Global: Speech Analytics (Solution) Market: Sales Value (in Million US$), 2015 & 2020
Figure 10: Global: Speech Analytics (Solution) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 11: Global: Speech Analytics (Service) Market: Sales Value (in Million US$), 2015 & 2020
Figure 12: Global: Speech Analytics (Service) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 13: Global: Speech Analytics (On-premises) Market: Sales Value (in Million US$), 2015 & 2020
Figure 14: Global: Speech Analytics (On-premises) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 15: Global: Speech Analytics (Cloud-based) Market: Sales Value (in Million US$), 2015 & 2020
Figure 16: Global: Speech Analytics (Cloud-based) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 17: Global: Speech Analytics (Small and Medium Enterprises) Market: Sales Value (in Million US$), 2015 & 2020
Figure 18: Global: Speech Analytics (Small and Medium Enterprises) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 19: Global: Speech Analytics (Large Enterprises) Market: Sales Value (in Million US$), 2015 & 2020
Figure 20: Global: Speech Analytics (Large Enterprises) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 21: Global: Speech Analytics (BFSI) Market: Sales Value (in Million US$), 2015 & 2020
Figure 22: Global: Speech Analytics (BFSI) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 23: Global: Speech Analytics (IT and Telecommunication) Market: Sales Value (in Million US$), 2015 & 2020
Figure 24: Global: Speech Analytics (IT and Telecommunication) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 25: Global: Speech Analytics (Retail) Market: Sales Value (in Million US$), 2015 & 2020
Figure 26: Global: Speech Analytics (Retail) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 27: Global: Speech Analytics (Healthcare) Market: Sales Value (in Million US$), 2015 & 2020
Figure 28: Global: Speech Analytics (Healthcare) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 29: Global: Speech Analytics (Government) Market: Sales Value (in Million US$), 2015 & 2020
Figure 30: Global: Speech Analytics (Government) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 31: Global: Speech Analytics (Hospitality) Market: Sales Value (in Million US$), 2015 & 2020
Figure 32: Global: Speech Analytics (Hospitality) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 33: Global: Speech Analytics (Other End Uses) Market: Sales Value (in Million US$), 2015 & 2020
Figure 34: Global: Speech Analytics (Other End Uses) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 35: North America: Speech Analytics Market: Sales Value (in Million US$), 2015 & 2020
Figure 36: North America: Speech Analytics Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 37: United States: Speech Analytics Market: Sales Value (in Million US$), 2015 & 2020
Figure 38: United States: Speech Analytics Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 39: Canada: Speech Analytics Market: Sales Value (in Million US$), 2015 & 2020
Figure 40: Canada: Speech Analytics Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 41: Asia-Pacific: Speech Analytics Market: Sales Value (in Million US$), 2015 & 2020
Figure 42: Asia-Pacific: Speech Analytics Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 43: China: Speech Analytics Market: Sales Value (in Million US$), 2015 & 2020
Figure 44: China: Speech Analytics Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 45: Japan: Speech Analytics Market: Sales Value (in Million US$), 2015 & 2020
Figure 46: Japan: Speech Analytics Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 47: India: Speech Analytics Market: Sales Value (in Million US$), 2015 & 2020
Figure 48: India: Speech Analytics Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 49: South Korea: Speech Analytics Market: Sales Value (in Million US$), 2015 & 2020
Figure 50: South Korea: Speech Analytics Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 51: Australia: Speech Analytics Market: Sales Value (in Million US$), 2015 & 2020
Figure 52: Australia: Speech Analytics Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 53: Indonesia: Speech Analytics Market: Sales Value (in Million US$), 2015 & 2020
Figure 54: Indonesia: Speech Analytics Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 55: Others: Speech Analytics Market: Sales Value (in Million US$), 2015 & 2020
Figure 56: Others: Speech Analytics Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 57: Europe: Speech Analytics Market: Sales Value (in Million US$), 2015 & 2020
Figure 58: Europe: Speech Analytics Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 59: Germany: Speech Analytics Market: Sales Value (in Million US$), 2015 & 2020
Figure 60: Germany: Speech Analytics Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 61: France: Speech Analytics Market: Sales Value (in Million US$), 2015 & 2020
Figure 62: France: Speech Analytics Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 63: United Kingdom: Speech Analytics Market: Sales Value (in Million US$), 2015 & 2020
Figure 64: United Kingdom: Speech Analytics Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 65: Italy: Speech Analytics Market: Sales Value (in Million US$), 2015 & 2020
Figure 66: Italy: Speech Analytics Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 67: Spain: Speech Analytics Market: Sales Value (in Million US$), 2015 & 2020
Figure 68: Spain: Speech Analytics Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 69: Russia: Speech Analytics Market: Sales Value (in Million US$), 2015 & 2020
Figure 70: Russia: Speech Analytics Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 71: Others: Speech Analytics Market: Sales Value (in Million US$), 2015 & 2020
Figure 72: Others: Speech Analytics Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 73: Latin America: Speech Analytics Market: Sales Value (in Million US$), 2015 & 2020
Figure 74: Latin America: Speech Analytics Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 75: Brazil: Speech Analytics Market: Sales Value (in Million US$), 2015 & 2020
Figure 76: Brazil: Speech Analytics Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 77: Mexico: Speech Analytics Market: Sales Value (in Million US$), 2015 & 2020
Figure 78: Mexico: Speech Analytics Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 79: Others: Speech Analytics Market: Sales Value (in Million US$), 2015 & 2020
Figure 80: Others: Speech Analytics Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 81: Middle East and Africa: Speech Analytics Market: Sales Value (in Million US$), 2015 & 2020
Figure 82: Middle East and Africa: Speech Analytics Market: Breakup by Country (in %), 2020
Figure 83: Middle East and Africa: Speech Analytics Market Forecast: Sales Value (in Million US$), 2021-2026
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

List of Tables

Table 1: Global: Speech Analytics Market: Key Industry Highlights, 2020 and 2026
Table 2: Global: Speech Analytics Market Forecast: Breakup by Type (in Million US$), 2021-2026
Table 3: Global: Speech Analytics Market Forecast: Breakup by Deployment (in Million US$), 2021-2026
Table 4: Global: Speech Analytics Market Forecast: Breakup by Enterprise Size (in Million US$), 2021-2026
Table 5: Global: Speech Analytics Market Forecast: Breakup by End Use (in Million US$), 2021-2026
Table 6: Global: Speech Analytics Market Forecast: Breakup by Region (in Million US$), 2021-2026
Table 7: Global: Speech Analytics Market: Competitive Structure
Table 8: Global: Speech Analytics Market: Key Players

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