Dublin, Aug. 12, 2019 (GLOBE NEWSWIRE) -- The "Voice Analytics Market by Component (Solution and Services), Application (Sentiment Analysis, Sales and Marketing Management, and Call Monitoring), Deployment Model, Organization Size, Vertical, and Region - Global Forecast to 2024" report has been added to ResearchAndMarkets.com's offering.
The global voice analytics market size to grow from USD 657 million in 2019 to USD 1,597 million by 2024, at a CAGR of 19.4% during 2019-2024.
The major growth drivers of the voice analytics market include the growing need to extract insights from customer interactions. Lack of accuracy in authenticating users may restrain the growth of the voice analytics market.
The major vendors offering voice analytics globally include Verint Systems, NICE, Avaya, ThoughtSpot, Uniphore, Calabrio, Talkdesk , Nextiva, RankMiner, VoiceBase, Beyond Verbal, VoiceSense, SESTEK, audEERING, and Xdroid.
The report also includes an in-depth competitive analysis of theese key players, along with their company profiles, business overviews, product offerings, recent developments, and market strategies.
The services segment to grow at a higher CAGR during the forecast period
The voice analytics market is segmented on the basis of components, such as solutions and services. The services segment is expected to grow at a rapid pace during the forecast period. An efficient voice analytics service help organizations unlock insights in voice communications by integrating voice analytics solution with their existing IT infrastructure.
The retail and eCommerce segment to grow at the highest CAGR during the forecast period
The voice analytics market by vertical has been segmented into BFSI, retail, and eCommerce, telecommunication, healthcare, government and defense, others (education, real estate, and travel and hospitality). The retail and eCommerce segment to grow at the highest CAGR during the forecast period, due to the growing demand to create a frictionless customer experience.
Among regions, Asia-Pacific (APAC) to grow at the highest CAGR during the forecast period
APAC is expected to grow at the highest CAGR during the forecast period. The increasing investments by the tech companies in major APAC countries, such as India, China, and Japan, growing government regulations and initiatives are expected to drive the growth of the market in the APAC region.
Key Topics Covered
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
4.1 Attractive Market Opportunities in the Voice Analytics Market
4.2 Market, By Application (2019-2024)
4.3 Market, By Organization Size
4.4 Market: Market Share Across Regions
5 Market Overview and Industry Trends
5.1 Introduction
5.2 Voice Analytics Market Dynamics
5.2.1 Drivers
5.2.1.1 Growing Need to Extract Insights From Customer Interactions
5.2.1.2 Rising Demand to Monitor and Improve Agent Performance
5.2.1.3 Growing Focus on Risk and Fraud Detection
5.2.2 Restraints
5.2.2.1 Lack of Accuracy in User Authentication
5.2.3 Opportunities
5.2.3.1 Impact of AI to Improve Individualized Experiences
5.2.4 Challenges
5.2.4.1 Lack of Skilled Workforce
5.2.4.2 Expensive Integration of Voice Analytics Solutions With Predictive Analytics
5.3 Use Cases
5.3.2 Innovation Spotlight
5.3.2.1 Advent of AI and ML Into Voice Analytics
5.3.2.2 Emergence of Real-Time Into Voice Analytics
5.4 Regulatory Implications
5.4.1 General Data Protection Regulation
5.4.2 Health Insurance Portability and Accountability Act (HIPPA)
5.4.3 Dodd-Frank Wall Street Reform and Consumer Protection
5.4.4 Market Abuse Regulation
5.4.5 2nd Revision of Markets in Financial Instruments Directive
5.4.6 European Banking Regulations
6 Voice Analytics Market, By Application
6.1 Introduction
6.2 Sentiment Analysis
6.2.1 Need for Real-Time Insights Into Customer Interactions to Drive the Adoption of Voice Analytics Solutions for Sentiment Analysis
6.3 Sales and Marketing Management
6.3.1 Need to Enhance Brand Reputation to Maintain Competitive Edge Driving the Adoption of Voice Analytics Solutions in Sales and Marketing Management
6.4 Risk and Fraud Detection
6.4.1 Need to Mitigate Risk and Reduce Loss to Drive the Adoption of Voice Analytics Solutions in Risk and Fraud Detection
6.5 Call Monitoring
6.5.1 Need to Reduce Customer Churn and Improve Agent Performance to Drive the Adoption of Voice Analytics Solutions in Call Monitoring
6.6 Others
7 Voice Analytics Market, By Component
7.1 Introduction
7.2 Solution
7.2.1 Need for Analyzing Real-Time Customer Behaviour to Drive the Adoption of Voice Analytics Solutions
7.3 Services
7.3.1 Managed Services
7.3.1.1 Need for Monitoring and Maintaining Software Operations and Reducing Overhead Costs to Drive the Demand for Managed Services
7.3.2 Professional Services
7.3.2.1 Need for a Strategic Outlook Exploring New Avenues for Improving Business Performance to Drive the Growth of Professional Services
7.3.2.1.1 Support and Maintenance
7.3.2.1.2 Consulting Services
8 Voice Analytics Market, By Deployment Mode
8.1 Introduction
8.2 Cloud
8.2.1 Growing Implementation, Data Accessibility, Scalability, and Ease of use to Drive the Adoption of Cloud-Based Voice Analytics Solutions
8.3 On-Premises
8.3.1 Flexibility to Integrate With a Variety of Third-Party Solutions Driving the Adoption of On-Premises Voice Analytics Solutions
9 Voice Analytics Market, By Organization Size
9.1 Introduction
9.2 Small and Medium-Sized Enterprises
9.2.1 Need for Viable Cloud-Based Analytics Solutions to Drive the Adoption of Voice Analytics Solutions in Small and Medium-Sized Enterprises
9.3 Large Enterprises
9.3.1 Increasing Adoption of Advanced Technologies to Drive the Adoption of Voice Analytics Solutions in Large Enterprises
10 Voice Analytics Market By Vertical
10.1 Introduction
10.2 Banking, Financial Services, and Insurance
10.2.1 Focus on Compliance With Regulations and Financial Standards to Increase the Demand for Voice Analytics Solutions in BFSI
10.3 Retail and Ecommerce
10.3.1 Understanding Customer Behavior in Real-Time to Boost the Adoption of Voice Analytics Solutions in Retail and Ecommerce
10.4 Telecommunication
10.4.1 Benefits Such as Reduced Churn Rate, Improved Services, and Enhanced Customer Loyalty to Fuel the Adoption of Voice Analytics Solutions in Telecommunication
10.5 Healthcare
10.5.1 Growing Demand to Achieve Better Patient Experience and Meet Regulations to Fuel the Adoption of Voice Analytics Solutions in Healthcare
10.6 Government and Defense
10.6.1 Need to Improve Reliability and Efficiency of Processes to Drive the Adoption of Voice Analytics Solutions in Government and Defense
10.7 Others
11 Voice Analytics Market, By Region
Company Profiles
- Verint Systems
- NICE
- Avaya
- ThoughtSpot
- Uniphore
- Calabrio
- Talkdesk
- RankMiner
- VoiceBase
- Beyond Verbal
- VoiceSense
- SESTEK
- Xdroid
- Invoca
- audEERING
For more information about this report visit https://www.researchandmarkets.com/r/x6e8qx
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