Speech Analytics Market Insights, Trends, And Forecasts 2019-2028

PUNE, India - Feb. 20, 2023 - PRLog -- Speech analytics refers to the process of evaluating recorded customer calls to collect information. This is done to improve communication and future interaction with the customers. Call recordings help an enterprise to gain rare insights about customer satisfaction, competitive intelligence, service issues, agent performance, and campaign effectiveness. Speech analytic solutions provide advanced functionalities and valuable intellects from customer calls. This information is used to discover information related to the strategy, operational issues, and contact centre agent performance of the company. Speech analytics software can give a company a significant competitive advantage. It helps to gain valuable information about the product and processes of a company. This helps companies to improve deliverables and gain customer satisfaction. It enables companies to reduce their operating expenses and save money. This has led to increased sales conversion rates as speech analytic tools help in the understanding response of different customer demographics toward the offers made. Speech analytics provides an unconditional analysis of recorded phone conversations of the company and its customers.

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SPEECH ANALYTICS MARKET DYNAMICS

Growing demand to monitor and improve agent performance, high growth in the numbers of customer interaction centres, adherence to regulatory and compliance standards, increasing focuses on taking competitive edge through market intelligence and rising requirements for compliance and risk management are some of the factors that are driving the Speech Analytics market. Expensive solutions and low awareness of the potential benefits of this technology among enterprises are few of the reasons that may slow down the adoption of speech analytics solutions and services among various industry verticals and domains. Cloud-based real-time speech analytics solutions and services are expected to provide high opportunities for various market players that are operating in this market.

SPEECH ANALYTICS MARKET KEY PLAYERS

Some of the vital players operating in this market include NICE, Verint, Micro Focus, Avaya, Genesys, Google, AWS, Vonage, OpenText, Calabrio, CallMiner, Clarabridge, Eleveo, Voci Technologies, Almawave, Marchex, Enghouse Interactive, Castel, Aspect, Sabio, Business Systems, Talkdesk, VoiceBase, Tech Mahindra, Invoca, Tethr, Cognito, Intelligent Voice, Kwantics, Batvoice AI, Speech Village, Speech-i Ltd, SpeechTech, Gnani.ai, Observe.AI, and Deepgram.