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Market Research Report

2017 - 2018 Speech Analytics Product and Market Report

Published by DMG Consulting LLC Product code 368683
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2017 - 2018 Speech Analytics Product and Market Report
Published: October 18, 2017 Content info:

The ‘2017-2018 Speech Analytics Product and Market Report’, DMG Consulting's twelfth annual edition, provides the most comprehensive and thorough review and analysis of the competitors, products, features, pricing, payback, and trends and challenges in the speech analytics market. DMG's coverage of this sector is unparalleled, and the Report is designed to enable end-user organizations to understand this complex market and make the right choice of product and partner for their unique environment. The Report focuses on applications of speech analytics in contact centers, but it also explores the broader use of this technology in a growing number of enterprise-wide activities.

The speech analytics market has reached maturity. These solutions are being used by contact centers to convert unstructured phone conversations into structured data that yields a wealth of information about customer needs and expectations. Speech analytics also uncovers enterprise-wide trends and challenges, providing tactical and strategic information that can be used to enhance all aspects of an organization, beyond the contact center. Currently, there are two categories of speech analytics vendors in the market: a large group of competitors who sell basic applications that focus on identifying key words and phrases, and a smaller set of feature-rich solution providers who offer extensive business intelligence platforms that provide enterprise-level data.

The future of speech analytics is positive. Adoption remains strong, and there is still a significant unpenetrated market for the stand-alone solutions. An even greater opportunity exists for vendors to deliver solutions that are cloud-based and address both speech and text interactions. These solutions make major contributions to enterprises when combined within other applications for sales, marketing, collections and the customer journey.

Analytics-enabled quality assurance (AQA) is another area where speech analytics can make valuable contributions. Using automation to evaluate and track agents' activities in voice interactions is an effective way to improve contact center QA programs. Having visibility into these transactions enables a company to monitor agents, understand why customers are contacting the company, and improve service quality and agent satisfaction. Traditional QA is people-intensive, subjective and expensive. Speech analytics has the ability to evaluate all voice contacts and provide statistically relevant results that can be used to identify and address customer and agent issues.

The next step for speech analytics is to enter the world of data science. DMG expects leading vendors to design new algorithms targeted at a variety of enterprise issues. In the future, artificial intelligence (AI) will be used to enhance the ability of speech analytics to identify issues and recommend ways to address them. Machine learning is starting to be used to enable these solutions to quantify the impact of new trends and issues with minimal human intervention. The opportunities and benefits are substantial for vendors and end users. Companies that take speech analytics seriously, and invest in the resources and best practices to build an effective program are realizing significant benefits.

The speech and text analytics offerings in the market are not all equal. Prospects must carefully evaluate the speech and text analytics solutions to be sure that they have all of the features and capabilities that are necessary for their specific environment. The ‘2017 - 2018 Speech Analytics Product and Market Report’ is intended to help contact center, IT and enterprise leaders and managers select the right partner to meet their organization's current and future speech analytics needs. The 2017 - 2018 edition covers 5 leading and contending vendors in-depth: Calabrio, CallMiner, NICE, SESTEK, and Verint; ZOOM International is also covered at a higher level.

Key Elements Of This Report:

  • Explanation of how speech analytics works, and a review of the functional building blocks that comprise speech analytics solutions
  • Overview of the core functional and technical capabilities of the 5 featured speech analytics solutions
  • Service delivery models and deployment options for speech analytics solutions
  • Analysis of the business trends and challenges that are driving vendor investments and innovation
  • Insights into new product features and a preview of enhancements that the vendors plan to deliver in the next 12 - 18 months
  • Discussion of how findings from interaction (speech and text) analytics are essential contributors to customer journey analytics solutions
  • Explanation of how interaction analytics-enabled quality assurance (AQA) is automating quality management processes and providing broader visibility into the omni-channel customer experience
  • A look at how real-time speech analytics is being leveraged to provide actionable insights to improve the customer experience, enhance agent performance and quality, reduce risk, and deliver quantifiable benefits to companies' bottom line
  • Speech analytics market activity and market share analysis, adoption rate, and 5-year projections
  • Review and assessment of the speech analytics competitive landscape
  • Overview of the 6 leading and contending speech analytics vendors, including company snapshots, product overviews, packaged solutions and other analytics offerings
  • Detailed comparative analyses of the key functional capabilities of the 5 featured speech analytics solutions
  • Speech analytics uses, benefits, and return on investment (ROI) analysis
  • Implementation analysis, including vendor methodology, best practices, maintenance and support, workshops, training and professional services
  • Comprehensive vendor satisfaction survey results that measure and rank vendor approval ratings across 15 product components and 10 vendor categories
  • Detailed pricing comparison and analysis for on-premise, cloud and managed service speech analytics solutions
  • Detailed product reports for all 6 speech analytics solution providers covered in the Report, analyzing their products, functionality and future product development plans
  • Speech Analytics Vendor Directory

Report Highlights:

  • The speech analytics market is mature: After 14 years in the commercial market, speech analytics has reached maturity, but the solutions have not become commoditized. Some solutions are business intelligence platforms that are feature-rich, while many others deliver basic functionality that concentrates on identifying key words and phrases and finding rudimentary patterns.
  • There is still substantial opportunity for growth in the speech analytics market and an untapped market for text analytics: Although adoption of speech analytics solutions continues to be strong, the addressable market is still large. It's time for a technology refresh cycle, and to open up the opportunity for solutions that address speech and text analytics.
  • The contributions of speech analytics will increase as these capabilities are incorporated into other applications: Speech analytics applications are highly valuable on a stand-alone basis, and their benefits increase as findings are incorporated into third-party applications and processes. This is particularly true for customer journey and interaction analytics solutions, where speech analytics can contribute great insights and provide context about customer needs and wants.
  • The next step for speech analytics is to enter the world of data science: Some speech analytics solutions have already begun to incorporate machine learning techniques to enhance their ability to identify and analyze findings with minimal human intervention. A new round of investments in artificial intelligence will also make significant contributions and improvements to speech and text analytics solutions.


Table of Contents

Table of Contents

1. Executive Summary

2. Introduction

3. DMG Consulting Research Methodology

  • 3.1. Report Participation Criteria

4. Speech Analytics Defined

  • 4.1. How it Works
  • 4.2. Post-Call vs. Real-Time
  • 4.3. Application Building Blocks

5. Speech Analytics High-Level Functional Summary

6. Speech Analytics High-Level Technical Summary

  • 6.1. Speech Engines
  • 6.2. Storage
  • 6.3. System Administration
  • 6.4. System Security

7. Service Delivery Models

  • 7.1. DMG Service Delivery Definitions
  • 7.2. Vendor Service Delivery Options

8. Interaction Analytics Market Trends and Challenges

  • 8.1. Interaction Analytics Trends
  • 8.2. Interaction Analytics Challenges

9. Speech Analytics Market Innovation

  • 9.1. New Product Features
  • 9.2. Emerging Capabilities

10. Interaction Analytics is Essential for Charting the Customer Journey

  • 10.1. What is Customer Journey Analytics?
  • 10.2. Best Practices for Applying Findings from CJA Solutions

11. Analytics-Enabled Quality Management Automates the QM Process and Provides Omni-Channel Visibility

  • 11.1. Best Practices for Building an AQM Program

12. Real-Time Speech Analytics Drives Real-Time Benefits

13. Market Activity Analysis

  • 13.1. Validating Market Activity Numbers
  • 13.2. Market Growth Rate
  • 13.3. Speech Analytics Market Activity

14. Adoption Rate of Speech Analytics

15. Speech Analytics Market Projections

  • 16. Speech Analytics Competitive Landscape
  • 16.1. Speech Analytics Vendor Categories
  • 16.2. Market Competitors

17. Speech Analytics Vendors and Solutions

  • 17.1. Company Snapshots
  • 17.2. Speech Analytics Go-To-Market Strategies
  • 17.3. Vendor Offerings and Products
  • 17.4. Packaged Offerings

18. Speech Analytics Detailed Functional Analysis

  • 18.1. Accuracy/Tuning
  • 18.2. Speech Recognition Capabilities
  • 18.3. Indexing, Searches and Queries
  • 18.4. Recording, Retrieval and Replay
  • 18.5. Emotion Detection/Sentiment Analysis
  • 18.6. Compliance
  • 18.7. Reporting, Dashboards and Alerts

19. Speech Analytics Uses, Benefits and Return on Investment

20. Implementation Analysis

  • 20.1. Implementation Process
  • 20.2. Implementation Best Practices
  • 20.3. Training and Professional Services
  • 20.4. Maintenance and Support

21. Speech Analytics Vendor Satisfaction Analysis

  • 21.1. Summary of Survey Findings and Analysis
  • 21.2. Product Satisfaction by Category
  • 21.3. Customer Insights
    • 21.3.1. Business Units Using Speech Analytics
    • 21.3.2. Applying Speech Analytics Findings
    • 21.3.3. Strengths of Speech Analytics Solutions
    • 21.3.4. Speech Analytics Desired Enhancements/Additional Capabilities
    • 21.3.5. Most Important Benefit Delivered by Speech Analytics
    • 21.3.6. Additional Comments

22. Pricing

  • 22.1. Premise-Based
  • 22.2. Cloud-Based
  • 22.3. Managed Service

23. Company Reports

  • 23.1. Calabrio
  • 23.2. CallMiner, Inc.
  • 23.3. NICE
  • 23.4. SESTEK
  • 23.5. Verint Systems
  • 23.6. ZOOM International

Appendix: Speech Analytics Vendor Directory


  • Figure 1: What is Speech Analytics?
  • Figure 2: Historical vs. Real-Time Speech Analytics Use Cases
  • Figure 3: Speech Analytics Technology Building Blocks
  • Figure 4: Speech Analytics High-Level Functional Summary
  • Figure 5: High-Level Technical Summary
  • Figure 6: Speech Engines
  • Figure 7: Storage
  • Figure 8: System Administration
  • Figure 9: System Security
  • Figure 10: Service Delivery Models, Advantages and Disadvantages
  • Figure 11: DMG's Service Delivery Definitions
  • Figure 12: Speech Analytics Vendor Service Delivery Options
  • Figure 13: 2017 Interaction Analytics Trends
  • Figure 14: 2017 Interaction Analytics Challenges
  • Figure 15: New Product Features, by Vendor
  • Figure 16: New Product Features, by Category
  • Figure 17: Future Application Enhancements
  • Figure 18: CJA Defined
  • Figure 19: Incorporating Findings from Other Analytics Solutions with Speech Analytics
  • Figure 20: Analytics-Enabled QA
  • Figure 21: Analytics-Enabled Quality Assurance (AQA)
  • Figure 22: Top Uses of Real-Time Speech Analytics
  • Figure 23: Real-Time Speech Analytics Capabilities
  • Figure 24: Contact Center Speech Analytics Seats and Percent Growth 2006 - 2016 (end of March 2017), in Thousands
  • Figure 25: Speech Analytics Seat Trend Detail by Geography, 2006 - 2016
  • Figure 26: Speech Analytics Activity, as of March 31, 2017
  • Figure 27: Speech Analytics Market Share Based on Seats, as of March 2017
  • Figure 28: Speech Analytics Customers and Seats by Vendor, 2015 vs. 2016
  • Figure 29: Speech Analytics Customer Trends by Vendor, 2010 - 2016
  • Figure 30: Speech Analytics Customer Trends by Vendor, 2010 - 2016
  • Figure 31: Speech Analytics Seat Trends by Vendor, 2010 - 2016
  • Figure 32: Speech Analytics Seat Trends by Vendor, 2010 - 2016
  • Figure 33: Speech Analytics Contact Center Adoption Rate, 2006 - 2016
  • Figure 34: Speech Analytics Market Growth Rate Projections Based on Seats, 2017 - 2021
  • Figure 35: Speech Analytics Competitive Landscape
  • Figure 36: Company Information as of June 30, 2017
  • Figure 37: Speech Analytics Go-To-Market-Strategy
  • Figure 38: Product Overview
  • Figure 39: Packaged Offerings
  • Figure 40: Tuning and Accuracy
  • Figure 41: Speech Recognition Capabilities
  • Figure 42: Indexing, Search and Queries
  • Figure 43: Recording, Retrieval and Replay
  • Figure 44: Emotion Detection/Sentiment Analysis
  • Figure 45: Compliance
  • Figure 46: Dashboards, Reporting and Analytics
  • Figure 47: Speech Analytics Uses, Benefits and ROI
  • Figure 48: Implementation Process
  • Figure 49: Implementation Best Practices
  • Figure 50: Training, Workshops and Professional Services
  • Figure 51: Maintenance and On-Going Support
  • Figure 52: Customer Survey Rating Categories
  • Figure 53: Average Satisfaction Ratings, by Category
  • Figure 54: Current Product Satisfaction Ratings, by Customer
  • Figure 55: Implementation Satisfaction Ratings, by Customer
  • Figure 56: Training/Workshops Satisfaction Ratings, by Customer
  • Figure 57: Ongoing Service and Support Satisfaction Ratings, by Customer
  • Figure 58: Professional Services Satisfaction Ratings, by Customer
  • Figure 59: Innovation Satisfaction Ratings, by Customer
  • Figure 60: Responsiveness to Product Enhancement Requests Satisfaction Ratings, by Customer
  • Figure 61: Communication Satisfaction Ratings, by Customer
  • Figure 62: Pricing Satisfaction Ratings, by Customer
  • Figure 63: Overall Vendor Satisfaction Ratings, by Customer
  • Figure 64: Product Satisfaction Ratings, by Category
  • Figure 65: Ease of Creating Searches and Queries Satisfaction Ratings, by Customer
  • Figure 66: Accuracy and Business Relevancy of Results Satisfaction Ratings, by Customer
  • Figure 67: Call Categorization and Analysis Capabilities Satisfaction Ratings, by Customer
  • Figure 68: Emotion Detection/Sentiment Analysis Satisfaction Ratings, by Customer
  • Figure 69: Ability to Conduct Discovery to identify Unknown Issues and Breaking Trends Satisfaction Ratings, by Customer
  • Figure 70: Ability to Perform Automated Root Cause Analysis Satisfaction Ratings, by Customer
  • Figure 71: Ability to Improve Regulatory Compliance Satisfaction Ratings, by Customer
  • Figure 72: Ability to Leverage Speech Analytics Findings to Augment Surveying and Other VoC Initiatives Satisfaction Ratings, by Customer
  • Figure 73: Ability to Leverage Speech Analytics Findings to Reduce Customer Effort and Improve the Customer Journey Satisfaction Ratings, by Customer
  • Figure 74: Ability to Leverage Speech Analytics Findings to Engage Agents and Improve Their Performance Satisfaction Ratings, by Customer
  • Figure 75: Analytics-Enabled QA Capabilities Satisfaction Ratings, by Customer
  • Figure 76: Real-Time Speech Analytics Capabilities Satisfaction Ratings, by Customer
  • Figure 77: Dashboards, Reporting and Analytics Satisfaction Ratings,by Customer
  • Figure 78: Ease of Use/Configuration/Maintenance Satisfaction Ratings, by Customer
  • Figure 79: Ease of Integration with Third-Party Applications Satisfaction Ratings, by Customer
  • Figure 80: What business units are using speech analytics information?
  • Figure 81: What are the top 5 ways you are applying speech analytics findings?
  • Figure 82: Please tell us the top 3 - 5 strengths of your speech analytics solution
  • Figure 83: What enhancements/additional capabilities would you like to see in your speech analytics solution?
  • Figure 84: What is the most important benefit that speech analytics has delivered for your company?
  • Figure 85: Additional comments about your experience with the vendor and/or product
  • Figure 86: Pricing for a Premise-Based Speech Analytics Solution
  • Figure 87: Pricing for a Cloud-Based Speech Analytics Solution
  • Figure 88: Pricing for a Managed Service Speech Analytics Solution
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