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Speech Analytics Market Share

Report ID: GMI7902
Published Date: Jan 2024
Report Format: PDF

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Speech Analytics Market Share

Major players operating in the speech analytics industry are

Avaya
Calabrio
CallMiner
Genesys
HP Autonomy
Mattersight
Nexidia
Nice
Uptivity
Verint

Nice and Verint are the dominant players, holding over 25% of revenue share in the global market. These major companies in the speech analytics industry are actively pursuing strategies to capitalize on the growing demand for advanced communication intelligence solutions. One prevalent trend is the integration of Artificial Intelligence (AI) and Machine Learning (ML) into speech analytics platforms. These technologies enhance the accuracy and depth of insights derived from spoken interactions, enabling more nuanced sentiment analysis, context understanding, and predictive analytics.

Cloud-based solutions are gaining prominence, providing scalability, accessibility, and ease of integration. Companies are investing in developing or transitioning their speech analytics offerings to cloud environments, catering to the increasing preference for flexible and cost-effective subscription models.

Authors: Preeti Wadhwani

Frequently Asked Questions (FAQ) :

Market size for speech analytics was USD 2.5 billion in 2023 and is expected to register over 17% CAGR from 2024-2032 owing to increasing collaborations among industry leaders for fostering innovation worldwide.

Speech analytics market from the solution component segment reached USD 1.5 billion in 2023 and is expected to register an appreciable CAGR from 2024-2032 owing to businesses increasingly recognizing the value of comprehensive analytics.

North America held 35% share of the speech analytics industry in 2023 and is expected to register commendable CAGR from 2024-2032 due to the growing emphasis on data-driven decision-making in the region.

Avaya, Calabrio, CallMiner, Genesys, HP Autonomy, Mattersight, Nexidia, Nice, Uptivity, and Verint are some of the major speech analytics companies worldwide.