Speech Analytics Market by Type (Solutions (Speech Engine, Indexing, Analysis and Query Tools, and Dash Boards and Reporting Tool) and Services), by Deployment Type (On- Remise, Cloud), by Organization Size, by Vertical, & by Region - Global Forecast to 2020

Published: April 2016
No. of Pages: 145
   

“Growing adoption of contact centers and increased importance of voice in the multichannel world are driving the speech analytics market”

The speech analytics market size is estimated to grow from USD 589.1 million in 2015 to USD 1.60 billion by 2020, at an estimated Compound Annual Growth Rate (CAGR) of 22.0% from 2015 to 2020. The speech analytics market is driven by factors such as growing adoption of contact centers, increased importance of voice in the multi channel world, and increasing importance of compliance management in organizations.

The speech analytics service market is expected to gain high traction during the forecast period

The speech analytics service market is estimated to grow with high CAGR during the forecast period. Companies in the speech analytics market have extensive portfolio for solutions and therefore the requirement of services becomes necessary to manage these solutions and provide organizations with better business process to sustain themselves in the competitive market. This has led to the growth of professional and managed services in the speech analytics market. The professional services segment is expected to capture a major share in the speech analytics services market during the forecast period of 2015–2020.

“Asia-Pacific is witnessing high growth potential during the forecast period”

North America has captured the largest market share in 2015 and Latin America is the fastest growing region in terms of CAGR. However, due to rapid industrialization, organizations are becoming more competitive and are focusing on better customer service. Thus, realizing the untapped potential of this region, business giants are investing in the speech analytics market into the APAC region. Moreover, in Latin America, the contact center outsourcing has witnessed a high growth rate, which is eventually leading market players to provide companies with innovative speech analytics solutions.

In the process of determining and verifying the market size for several segments and subsegments gathered through secondary research, extensive primary interviews were conducted with key people. The break-up of profiles of primary participants is given below:

  • By Company Type: Tier 1: 20%, Tier 2: 35%, and Tier 3:45%
  • By Designation: C level:55%, Director level:25%, and Others:20%
  • By Region: North America:41%, Europe:36%, APAC:18%, Rest of the World: 5%

The latest trends in speech analytics include cloud-based speech analytics solutions and real-time speech analytics solutions. The availability of cloud deployment options for speech analytics solutions has further given a boost to the demand across many verticals. Also, the market in Asia-Pacific (APAC) is gaining high market traction due to increasing economic growth and cloud adoption in the region.  

The various key speech analytics vendors and service providers profiled in the report are as follows:

  • Intelligence Interactive Group, Inc.
  • NICE Systems Ltd.
  • Verint Systems
  • Avaya, Inc.
  • Genesys Telecommunication Laboratories, Inc.
  • HP Enterprise
  • inContact, Inc.
  • Calabrio, Inc.
  • Callminer, Inc.
  • Calabridge, Inc.

The report will help the market leaders/new entrants in this market in the following ways:

  • This report segments the speech analytics market comprehensively and provides the closest approximations of the revenue numbers for the overall market and subsegments across different verticals and regions.
  • The report helps stakeholders to understand the pulse of the market and provides them information on key market drivers, restraints, challenges, and opportunities.
  • This report will help stakeholders to better understand the competitor and gain more insights to better their position in the business. The competitive landscape section includes competitor ecosystem, new product developments, partnerships, and mergers and acquisitions.

Speech Analytics Market by Type (Solutions (Speech Engine, Indexing, Analysis and Query Tools, and Dash Boards and Reporting Tool) and Services), by Deployment Type (On- Remise, Cloud), by Organization Size, by Vertical, & by Region - Global Forecast to 2020

Table of Contents

1 Introduction
1.1 Objectives of the Report
1.2 Market Definition
1.3 Market Scope
1.3.1 Markets Covered
1.3.2 Years Considered in the Report
1.4 Currency
1.5 Limitations
1.6 Stakeholders

2 Research Methodology
2.1 Introduction
2.2 Research Data
2.2.1 Secondary Data
2.2.1.1 Key Data From Secondary Sources
2.2.2 Primary Data
2.2.2.1 Key Data From Primary Sources
2.2.2.2 Key Industry Insights
2.3 Market Size Estimation
2.3.1 Bottom-Up Approach
2.3.2 Top-Down Approach
2.4 Market Breakdown and Data Triangulation
2.5 Research Assumptions and Limitations
2.5.1 Assumptions
2.5.2 Limitations

3 Executive Summary

4 Premium Insights
4.1 Attractive Market Opportunities in the Market
4.2 Speech Analytics Market, By Type
4.3 Speech Analytics Market, By Deployment Type
4.4 Global Market, By Vertical and By Region, 2015
4.5 Lifecycle Analysis, By Region (2015)

5 Speech Analytics Market Overview
5.1 Introduction
5.2 Evolution
5.3 Market Segmentation
5.3.1 By Type: Solutions and Services
5.3.2 By Deployment Type
5.3.3 By Organization Size
5.3.4 By Vertical
5.3.5 By Region
5.4 Market Dynamics
5.4.1 Drivers
5.4.1.1 Growing Demand From Contact Centers
5.4.1.2 Increased Importance of Voice in Multichannel World
5.4.1.3 Increased Focus on Competitive and Market Intelligence
5.4.1.4 Risk and Compliance Management
5.4.2 Restraints
5.4.2.1 High Costs
5.4.3 Opportunities
5.4.3.1 Cloud-Based Speech Analytics Solutions
5.4.3.2 Real-Time Speech Analytics
5.4.4 Challenges
5.4.4.1 Lack of Awareness and Concerns Over Business Value

6 Speech Analytics Market: Industry Trends
6.1 Introduction
6.2 Value Chain Analysis
6.3 Demand Analysis
6.4 Strategic Benchmarking
6.5 Applications Overview
6.5.1 Business Processing Management
6.5.2 Agent Performance Management
6.5.3 Customer Experience Management
6.5.4 Market Intelligence
6.5.5 Risk and Compliance Management

7 Speech Analytics Market Analysis, By Type
7.1 Introduction
7.2 Solutions
7.2.1 Speech Engine
7.2.2 Indexing, Analysis, and Query Tools
7.2.3 Dashboard and Reporting Tools
7.3 Services
7.3.1 Professional Services
7.3.2 Managed Services

8 Speech Analytics Market Analysis, By Deployment Type
8.1 Introduction
8.2 On-Premises
8.3 Cloud

9 Speech Analytics Market Analysis, By Organization Size
9.1 Introduction
9.2 Small and Medium Enterprises
9.3 Large Enterprises

10 Speech Analytics Market Analysis, By Industry Vertical
10.1 Introduction
10.2 Banking, Financial Services, and Insurance
10.3 Telecommunication and IT
10.4 Retail and Consumer Goods
10.5 Healthcare and Life Sciences
10.6 Media and Entertainment
10.7 Government, Public Sector, and Utilities
10.8 Travel and Hospitality
10.9 Others

11 Geographic Analysis
11.1 Introduction
11.2 North America
11.3 Europe
11.4 Asia-Pacific
11.5 Middle East and Africa
11.6 Latin America

12 Competitive Landscape
12.1 Overview
12.2 Competitive Situation and Trends
12.2.1 Agreements, Partnerships, and Collaborations
12.2.2 New Product/Service Developments
12.2.3 Mergers and Acquisitions
12.2.4 Expansions
12.2.5 Venture Capital Funding

13 Company Profiles
(Business Overview, Products & Services, Key Insights, Recent Developments, SWOT Analysis, MnM View)*
13.1 Introduction
13.2 Interactive Intelligence Group, Inc.
13.3 Nice Systems Ltd.
13.4 Verint Systems
13.5 Avaya, Inc.
13.6 Genesys Telecommunications Laboratories, Inc.
13.7 Hewlett-Packard Enterprise
13.8 Incontact, Inc.
13.9 Calabrio, Inc.
13.10 Callminer, Inc.
13.11 Clarabridge, Inc.

*Details on Business Overview, Products & Services, Key Insights, Recent Developments, SWOT Analysis, MnM View Might Not Be Captured in Case of Unlisted Companies.

14 Key Innovators
14.1 Voci Technologies, Inc.
14.2 Almawave
14.3 Zoom International
14.4 Nexidia, Inc.

15 Appendix
15.1 Key Industry Insights
15.2 Discussion Guide
15.3 Introducing RT: Real-Time Market Intelligence
15.4 Available Customizations
15.5 Related Reports

List of Tables

Table 1 Speech Analytics Market Size and Growth, 2013–2020 (USD Billion)
Table 2 Market Size, By Type, 2013–2020 (USD Million)
Table 3 Speech Analytics Solutions Market Size, By Type, 2013–2020 (USD Million)
Table 4 Speech Analytics Solutions Market Size, By Region, 2013–2020 (USD Million)
Table 5 Speech Engine: Market Size, By Region, 2013–2020 (USD Million)
Table 6 Indexing, Analysis, and Query Tools: Market Size, By Region, 2013–2020 (USD Million)
Table 7 Dashboard and Reporting Tools: Market Size, By Region, 2013–2020 (USD Million)
Table 8 Speech Analytics Services Market Size, By Type, 2013–2020 (USD Million)
Table 9 Speech Analytics Services Market Size, By Region, 2013–2020 (USD Million)
Table 10 Professional Services: Market Size, By Region, 2013–2020 (USD Million)
Table 11 Managed Services: Market Size, By Region, 2013–2020 (USD Million)
Table 12 Speech Analytics Market Size, By Deployment Model, 2013–2020 (USD Million)
Table 13 On-Premises: Market Size, By Organization Size, 2013–2020 (USD Million)
Table 14 On-Premises: Market Size, By Region, 2013–2020 (USD Million)
Table 15 Cloud: Market Size, By Organization Size, 2013–2020 (USD Million)
Table 16 Cloud: Market Size, By Region, 2013–2020 (USD Million)
Table 17 Speech Analytics Market Size, By Organization Size, 2013–2020 (USD Million)
Table 18 Small and Medium Enterprises: Market Size, By Deployment Type, 2013–2020 (USD Million)
Table 19 Small and Medium Enterprises: Market Size, By Region, 2013–2020 (USD Million)
Table 20 Large Enterprises: Market Size, By Deployment Type, 2013–2020 (USD Million)
Table 21 Large Enterprise: Market Size, By Region, 2013–2020 (USD Million)
Table 22 Speech Analytics Market Size, By Vertical, 2013–2020 (USD Million)
Table 23 BFSI: Market Size, By Region, 2013–2020 (USD Million)
Table 24 Telecommunication and IT: Market Size, By Region, 2013–2020 (USD Million)
Table 25 Retail and Consumer Goods: Market Size, By Region, 2013–2020 (USD Million)
Table 26 Healthcare and Life Sciences: Market Size, By Region, 2013–2020 (USD Million)
Table 27 Media and Entertainment: Market Size, By Region, 2013–2020 (USD Million)
Table 28 Government, Public Sector, and Utilities: Market Size, By Region, 2013–2020 (USD Million)
Table 29 Travel and Hospitality: Market Size, By Region, 2013–2020 (USD Million)
Table 30 Others: Market Size, By Region, 2013–2020 (USD Million)
Table 31 Speech Analytics Market Size, By Region, 2013–2020 (USD Million)
Table 32 North America: Market Size, By Type, 2013–2020 (USD Million)
Table 33 North America: Market Size, By Solution, 2013–2020 (USD Million)
Table 34 North America: Market Size, By Service, 2013–2020 (USD Million)
Table 35 North America: Market Size, By Deployment Model, 2013–2020 (USD Million)
Table 36 North America: Market Size, By Organization Size, 2013–2020 (USD Million)
Table 37 North America: Market Size, By Vertical, 2013–2020 (USD Million)
Table 38 Europe: Market Size, By Type, 2013–2020 (USD Million)
Table 39 Europe: Market Size, By Solution, 2013–2020 (USD Million)
Table 40 Europe: Market Size, By Service, 2013–2020 (USD Million)
Table 41 Europe: Market Size, By Deployment Model, 2013–2020 (USD Million)
Table 42 Europe: Market Size, By Organization Size, 2013–2020 (USD Million)
Table 43 Europe: Speech Analytics Market Size, By Vertical, 2013–2020 (USD Million)
Table 44 Asia-Pacific: Market Size, By Type, 2013–2020 (USD Million)
Table 45 Asia-Pacific: Market Size, By Solution, 2013–2020 (USD Million)
Table 46 Asia-Pacific: Market Size, By Service, 2013–2020 (USD Million)
Table 47 Asia-Pacific: Market Size, By Deployment Model, 2013–2020 (USD Million)
Table 48 Asia-Pacific: Market Size, By Organization Size, 2013–2020 (USD Million)
Table 49 Asia-Pacific: Market Size, By Vertical, 2013–2020 (USD Million)
Table 50 Middle East and Africa: Speech Analytics Market Size, By Type, 2013–2020 (USD Million)
Table 51 Middle East and Africa: Market Size, By Solution, 2013–2020 (USD Million)
Table 52 Middle East and Africa: Market Size, By Service, 2013–2020 (USD Million)
Table 53 Middle East and Africa: Market Size, By Deployment Model, 2013–2020 (USD Million)
Table 54 Middle East and Africa: Market Size, By Organization Size, 2013–2020 (USD Million)
Table 55 Middle East and Africa: Market Size, By Vertical, 2013–2020 (USD Million)
Table 56 Latin America: Market Size, By Type, 2013–2020 (USD Million)
Table 57 Latin America: Market Size, By Solution, 2013–2020 (USD Million)
Table 58 Latin America: Market Size, By Service, 2013–2020 (USD Million)
Table 59 Latin America: Market Size, By Deployment Model, 2013–2020 (USD Million)
Table 60 Latin America: Market Size, By Organization Size, 2013–2020 (USD Million)
Table 61 Latin America: Speech Analytics Market Size, By Vertical, 2013–2020 (USD Million)
Table 62 Agreements, Partnerships, and Collaborations, 2013–2016
Table 63 New Product Developments, 2013–2016
Table 64 Mergers and Acquisitions, 2013–2016
Table 65 Expansions, 2013–2016
Table 66 Venture Capital Funding, 2013–2016

List of Figures

Figure 1 Global Speech Analytics Market: Research Design
Figure 2 Breakdown of Primaries: By Company Type, Designation, and Region
Figure 3 Market Size Estimation Methodology: Bottom-Up Approach
Figure 4 Market Size Estimation Methodology: Top-Down Approach
Figure 5 Market Breakdown and Data Triangulation
Figure 6 Assumptions
Figure 7 Limitations
Figure 8 Dashboard and Reporting Tools Segment is Expected to Grow at the Highest Rate During the Forecast Period
Figure 9 The Adoption of Speech Analytics is Expected to Grow at the Highest Rate in Small and Medium Enterprises
Figure 10 Cloud-Based Speech Analytics Solutions Segment is Expected to Grow at A High CAGR During the Forecast Period
Figure 11 North America is Expected to Lead the Speech Analytics Market in 2015
Figure 12 Speech Analytics Solutions are Expected to Gain Traction During the Forecast Period
Figure 13 Speech Analytics Services are Expected to Witness the Highest Growth Rate During the Forecast Period
Figure 14 On-Premises Contributes the Largest Market Share Among the Deployment Types
Figure 15 Telecommunication and IT By Vertical and North America By Region are Expected to Account for the Highest Share.
Figure 16 Speech Analytics Regional Lifecycle: Asia-Pacific Exhibits High Potential Growth During the Forecast Period
Figure 17 Speech Analytics Market: Evolution
Figure 18 Market Segmentation: By Solution
Figure 19 Market Segmentation: By Service
Figure 20 Market Segmentation: By Deployment Type
Figure 21 Market Segmentation: By Organization Size
Figure 22 Market Segmentation: By Vertical
Figure 23 Market Segmentation: By Region
Figure 24 Market: Drivers, Restraints, Opportunities, and Challenges
Figure 25 Speech Analytics Market: Value Chain
Figure 26 Strategic Benchmarking
Figure 27 Market Gaining Traction Due to Increasing Contact Centers and Need for Customer Management
Figure 28 Need for Cost-Effective Solutions Will Drive Cloud Deployment Model in the Organizations
Figure 29 Better Cost Optimization on the Assets and Requirements Driving SME to Adopt Speech Analytics Solutions
Figure 30 Higher Rate of Adoption of Speech Analytics in Healthcare and Life Sciences Vertical
Figure 31 North America is Expected to Dominate the Market With A Major Presence of Solution Vendors
Figure 32 Latin America is Expected to Exhibit the Highest Growth Rate Due to the Huge Investments By the Speech Analytics Market Players in the Region
Figure 33 North America Market Snapshot
Figure 34 Asia-Pacific Market Snapshot
Figure 35 Companies Adopted Partnerships and Agreements as the Key Growth Strategies During 2013–2016
Figure 36 Market Evaluation Framework
Figure 37 Battle for Market Share: Partnership and Agreement has Been the Key Growth Strategy for Companies
Figure 38 Geographic Revenue Mix of 5 Market Players
Figure 39 Interactive Intelligence Group, Inc.: Company Snapshot
Figure 40 Interactive Intelligence Group, Inc.: SWOT Analysis
Figure 41 Nice Systems Ltd.: Company Snapshot
Figure 42 Nice Systems Ltd.: SWOT Analysis
Figure 43 Verint Systems: Company Snapshot
Figure 44 Verint Systems: SWOT Analysis
Figure 45 Avaya, Inc.: Company Snapshot
Figure 46 Avaya, Inc.: SWOT Analysis
Figure 47 Genesys Telecommunications Laboratories, Inc.: SWOT Analysis
Figure 48 Hewlett-Packard Enterprise: Company Snapshot
Figure 49 Incontact, Inc.: Company Snapshot

Published By: MarketsandMarkets
Product Code: MarketsandMarkets1699


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