PUBLISHER: The Business Research Company | PRODUCT CODE: 1695275
PUBLISHER: The Business Research Company | PRODUCT CODE: 1695275
Voice and speech analytics encompass the technology and processes focused on the analysis and interpretation of spoken language, often found in various forms such as recorded calls. The primary goal is to extract valuable insights, patterns, and information. The applications of voice and speech analytics are diverse and include optimizing customer service, detecting fraud, and enabling data-driven decision-making. This technology finds practical use in call centers, market research, and business intelligence, providing a valuable tool for organizations seeking to derive meaningful information from spoken interactions.
The primary components of voice and speech analytics consist of solutions and services. Voice and speech analytics solutions include products, services, or procedures specifically designed to address particular issues. They are applied across diverse industries to extract valuable insights from customer interactions, elevate customer satisfaction, and enhance operational efficiency. These solutions can be deployed in on-premises and cloud modes and cater to organizations of different sizes, including large enterprises and small and medium-sized enterprises (SMEs). Voice and speech analytics find application in various scenarios such as customer experience management, call monitoring and summarization, agent performance monitoring, sales and marketing management, risk and compliance management, sentiment analysis, and other related areas.
The voice and speech analytics research report is one of a series of new reports from The Business Research Company that provides voice and speech analytics market statistics, including the voice and speech analytics industry's global market size, regional shares, competitors with an voice and speech analytics market share, detailed voice and speech analytics market segments, market trends and opportunities, and any further data you may need to thrive in the voice and speech analytics industry. This voice and speech analytics market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The voice and speech analytics market size has grown rapidly in recent years. It will grow from $2.54 billion in 2024 to $3.04 billion in 2025 at a compound annual growth rate (CAGR) of 19.9%. The growth in the historic period can be attributed to rapid adoption of conversational ai, expansion of industry-specific solutions, integration with advanced analytics platforms, ai-driven personalization, emphasis on emotional and sentiment analysis.
The voice and speech analytics market size is expected to see rapid growth in the next few years. It will grow to $5.7 billion in 2029 at a compound annual growth rate (CAGR) of 17.0%. The growth in the forecast period can be attributed to increased adoption of cloud computing, growing need for customer experience improvement, rise of multichannel communication, focus on fraud prevention and security, increased availability of big data. Major trends in the forecast period include multi-channel analytics, real-time sentiment analysis, emotion recognition technology, focus on compliance and ethical ai, predictive analytics for customer behavior.
The anticipated surge in video content marketing is poised to drive the growth of the voice and speech analytics market. Video content marketing involves the creation and strategic utilization of videos for marketing purposes, aiming to promote or communicate messages effectively to a target audience. Voice and speech analytics play a crucial role in video content marketing, facilitating data-driven decision-making, audience understanding, and the optimization of video content for enhanced engagement and impact. In February 2023, a survey by Wyzowl, a UK-based video marketing agency and software company, revealed that the adoption of video content marketing by businesses increased to 91%, indicating a rise from the 86% usage rate observed in 2022. The escalating demand for video content marketing is expected to be a key driver for the growth of the voice and speech analytics market.
Prominent companies in the voice and speech analytics market are strategically focusing on collaborations to develop technologically advanced products. Strategic collaborations involve formalized agreements between entities to work together towards shared goals, benefiting all parties involved. For instance, in February 2023, Bharti Airtel Limited, an India-based telecommunications services company, collaborated with Nvidia Corporation, a US-based technology company, to launch an artificial intelligence-based speech analytics solution. Airtel developed a customized voice application using Nvidia's conversational AI toolkit NvidiaNeMo and the multi-framework inference-serving software Triton Inference Server. The collaboration aims to integrate Airtel's deep learning-based automated speech recognition (ASR) models with Nvidia's sophisticated software, enabling language analysis and practical adjustments to operations. This approach promises results at 30% of the average computation cost, with a smaller carbon footprint and reduced greenhouse gas emissions.
In June 2024, Deepgram, a US-based AI company known for its advanced speech-to-text and audio-intelligence solutions, acquired Poised, Inc. for an undisclosed amount. This acquisition is intended to transform real-time voice AI communication by equipping users with personalized feedback and tools to improve their virtual meeting experiences. Poised, Inc. is a US-based technology company that specializes in voice and speech analytics, emphasizing the enhancement of communication and engagement through technology.
Major companies operating in the voice and speech analytics market report are Google LLC, Amazon Web Services Inc., Hewlett Packard Enterprise Development LP, Micro Focus International PLC, Avaya Inc., NICE Systems Ltd., Genesys Telecommunications Laboratories Inc., Qualtrics, Vonage, AlmavivA S.p.A., Verint System Inc., Five9 Inc., Enghouse Interactive Inc., Talkdesk Inc., ThoughtSpot Inc., Uniphore, Calabrio Inc., CallMiner, Marchex Inc., Sabio Group, Clarabridge, Nexidia Inc., CallTrackingMetrics, Castel Communications LLC, VoiceBase Inc., 3CLogic Inc., Beyond Verbal, Voci Technologies Inc., RankMiner, Zoom Speech Analytics
North America was the largest region in the voice and speech analytics market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the voice and speech analytics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the voice and speech analytics market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain
The voice and speech analytics market consists of revenues earned by entities by providing services such as real-time analysis, customer insights, quality assurance, and voice transcription and analysis. The market value includes the value of related goods sold by the service provider or included within the service offering. The voice and speech analytics market also includes sales of microphones, storage devices, computing hardware, and speech recognition devices. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Voice And Speech Analytics Global Market Report 2025 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on voice and speech analytics market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for voice and speech analytics ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The voice and speech analytics market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The forecasts are made after considering the major factors currently impacting the market. These include the Russia-Ukraine war, rising inflation, higher interest rates, and the legacy of the COVID-19 pandemic.