Speech Analytics Market by Component (Solutions (Speech Engine, Indexing, Analysis & Query Tools, Reporting & Visualization Tools) and Services), Application, Deployment Model, Organization Size, Industry Vertical, and Region - Global Forecast to 2022

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Date: 19-Feb-2018
No. of pages: 150
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“Increasing focus on higher customer satisfaction and rising significance for real-time speech analytics are expected to boost the growth of speech analytics market”

The global speech analytics market size is expected to grow from USD 941.1 million in 2017 to USD 2,175.8 million by 2022, at a Compound Annual Growth Rate (CAGR) of 18.2% during the forecast period. Increasing focus on higher customer satisfaction is one of the key factors fueling the growth of this market. Cloud-based speech analytics solutions and rising need to predict are expected to evolve the speech analytics. As a result, it will provide growth opportunities for the market. However, integrating with the existing system with the right approach is a major restraining factor for the growth of speech analytics market.

“Indexing, analysis, and query tools segment is expected to hold the largest market size during the forecast period”

Indexing starts with the analysis of the subject and various target words in a speech. This process involves the extraction of words directly from the speech or searches the words from the in-built vocabulary. The software derives the findings from speech engine to index them for further analysis and ad-hoc searching. This is where the tools import data from other telephony and servicing solutions. Phonetic indexing converts the agent-customer conversation into a string of phonemes and identifies a predefined list of words or else conducts a free text search. Without the indexing process, the speech engine software scans for every document, which would take considerable time. Therefore, companies utilize this solution to minimize the time involved. The query engine helps end users in defining their queries and presenting the required output from the solution. The search tool conducts ad-hoc searches on processed audio files for nested filtering.

“APAC is projected to grow at the highest rate during the forecast period”

The speech analytics market growth in Asia Pacific (APAC) region is gaining momentum and is expected to grow at the highest rate in the coming years. Rising awareness can be attributed to continuous increase in companies’ focus on improving their customer service to drive competitive differentiation and revenue growth. Also, to enhance business productivity supplemented by speech analytics solutions and services has made APAC a highly potential market. In addition, major economies in APAC, such as India, Singapore, Malaysia, Japan, South Korea, and Australia are adopting the cloud technology.

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 the profiles of the primary participants is given below:


  • By Company: Tier 1:22%, Tier 2: 30%, and Tier 3:48%

  • By Designation: C-level:30%, Director level:45%, and Others:25%

  • By Region: North America:45%, Europe:25%, APAC:22%and Middles East and Africa: 8%


The following key vendors are profiled in the report:


  • Verint Systems (US)

  • Avaya (US)

  • Calabrio (US)

  • Clarabridge (US)

  • Voci Technologies (US)

  • Zoom International (Czech Republic)

  • NICE Systems (Israel)

  • Genesys (US)

  • HPE(US)

  • CallMiner (US)

  • Almawave (Italy)


Research Coverage

The report segments the speech analytics market based by components, which are further segmented into solutions and services. Under solutions, the report covers speech engine, indexing, analysis and query tools; and reporting and visualization. In the service segment of the market is further segmented as managed and professional. The professional services in the report are further segmented into support and maintenance, and consulting services. Based on deployment models, the market is segmented into on-premises and cloud. Under the organization size, it is segmented into Small and Medium-sized Enterprises (SMEs) and large enterprises. Further, under industry verticals, the report covers retail and eCommerce, government and defense, healthcare and life sciences, energy and utilities, telecommunications and IT, travel and hospitality, media and entertainment, and Banking, Financial Services, and Insurance (BFSI). The regions are segmented into North America, Europe, Asia Pacific (APAC), Middle East and Africa (MEA), and Latin America.

Reasons to buy the report

The report will help the 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 industry verticals and regions.

  • The report helps stakeholders to understand the pulse of the market and provides them with information on the key market drivers, restraints, challenges, and opportunities.

  • This report will help stakeholders to better understand the competitors and gain more insights to enhance their position in the business. The competitive landscape section includes new product launches/developments; partnerships and collaborations ;mergers and acquisitions; and expansions.

Speech Analytics Market by Component (Solutions (Speech Engine, Indexing, Analysis & Query Tools, Reporting & Visualization Tools) and Services), Application, Deployment Model, Organization Size, Industry Vertical, and Region - Global Forecast to 2022

Table of Contents

1 Introduction
1.1 Objectives of the Study
1.2 Market Definition
1.3 Market Scope
1.4 Years Considered for the Study
1.5 Currency
1.6 Stakeholders

2 Research Methodology
2.1 Research Data
2.1.1 Secondary Data
2.1.2 Primary Data
2.1.2.1 Breakdown of Primaries
2.1.2.2 Key Industry Insights
2.2 Market Size Estimation
2.2.1 Bottom-Up Approach
2.2.2 Top-Down Approach
2.3 Assumptions
2.4 Limitations

3 Executive Summary

4 Premium Insights
4.1 Attractive Opportunities in the Market
4.2 Speech Analytics Market, By Region
4.3 Speech Analytics Market, Top 3 Industry Verticals and Regions
4.4 Investment Opportunities in the Market

5 Market Overview
5.1 Introduction
5.1.1 Market Dynamics
5.1.2 Drivers
5.1.2.1 Need for Higher Customer Satisfaction
5.1.2.2 Rising Significance for Real-Time Speech Analytics
5.1.2.3 Increasing Need of Speech Analytics Software and Services to Cater to the Growing Bpo Sector
5.1.2.4 Adherence to Regulatory and Compliance Standards
5.1.3 Restraints
5.1.3.1 Integrating With Existing Systems and Selection of Right Approach
5.1.3.2 Difficult to Quantify Return on Investment (RoI)
5.1.4 Opportunities
5.1.4.1 Rising Need to Predict Customer’s Intent and Monitor Agent’s Behavior
5.1.4.2 Cloud-Based Speech Analytics Solutions
5.1.5 Challenges
5.1.5.1 Data Ecosystem and Exchanges Leading to Data Security Concerns
5.1.5.2 Inconsistent Link Between Business Semantics and Business Goals
5.2 Industry Trends
5.2.1 Features/Functionalities
5.2.1.1 Emotion Detection
5.2.1.2 Speech-To-Text Recognition
5.2.1.3 Phonetic Indexing
5.2.1.4 Talk Over Analytics
5.2.2 Use Cases
5.2.2.1 Use Case 1: Insurance Services
5.2.2.2 Use Case 2: Energy and Utilities
5.2.2.3 Use Case 3: Financial Services
5.2.3 Innovation Spotlight
5.2.3.1 Advent of Artificial Intelligence(AI) and Machine Learning Into Speech Analytics
5.2.3.2 Emergence of Real-Time Into Speech Analytics

6 Speech Analytics Market, By Component
6.1 Introduction
6.2 Solutions
6.2.1 Speech Engine
6.2.2 Indexing, Analysis, and Query Tools
6.2.3 Reporting and Visualization Tools
6.3 Services
6.3.1 Managed Services
6.3.2 Professional Services
6.3.2.1 Support and Maintenance
6.3.2.2 Consulting Services
6.3.2.3 Deployment and Integration

7 Speech Analytics Market, By Application
7.1 Introduction
7.2 Customer Experience Management
7.3 Call Monitoring
7.4 Agent Performance Monitoring
7.5 Sales Performance Management
7.6 Competitive Intelligence
7.7 Risk and Compliance Management
7.8 Others

8 Market By Deployment Model
8.1 Introduction
8.2 On-Premises
8.3 Cloud

9 Market By Organization Size
9.1 Introduction
9.2 Small and Medium-Sized Enterprises
9.3 Large Enterprises

10 Speech Analytics Market, By Industry Vertical
10.1 Introduction
10.2 Banking, Financial Services, and Insurance
10.3 Telecommunications and IT
10.4 Retail and Ecommerce
10.5 Healthcare and Life Sciences
10.6 Media and Entertainment
10.7 Government and Defense
10.8 Energy and Utilities
10.9 Travel and Hospitality
10.10 Others

11 Speech Analytics Market, By Region
11.1 Introduction
11.2 North America
11.2.1 By Component
11.2.2 By Solution
11.2.3 By Service
11.2.4 By Professional Service
11.2.5 By Application
11.2.6 By Deployment Model
11.2.7 By Organization Size
11.2.8 By Industry Vertical
11.3 Europe
11.3.1 By Component
11.3.2 By Solution
11.3.3 By Service
11.3.4 By Professional Service
11.3.5 By Application
11.3.6 By Deployment Model
11.3.7 By Organization Size
11.3.8 By Industry Vertical
11.4 Asia Pacific
11.4.1 By Component
11.4.2 By Solution
11.4.3 By Service
11.4.4 By Professional Service
11.4.5 By Application
11.4.6 By Deployment Model
11.4.7 By Organization Size
11.4.8 By Industry Vertical
11.5 Middle East and Africa
11.5.1 By Component
11.5.2 By Solution
11.5.3 By Service
11.5.4 By Professional Service
11.5.5 By Application
11.5.6 By Deployment Model
11.5.7 By Organization Size
11.5.8 By Industry Vertical
11.6 Latin America
11.6.1 By Component
11.6.2 By Solution
11.6.3 By Service
11.6.4 By Professional Service
11.6.5 By Application
11.6.6 By Deployment Model
11.6.7 By Organization Size
11.6.8 By Industry Vertical

12 Competitive Landscape
12.1 Overview
12.2 Prominent Players Operating in the Speech Analytics Market
12.3 Partnerships, Agreements, and Collaborations
12.4 New Product Launches and Product Upgradations
12.5 Acquisitions

13 Company Profiles
13.1 Introduction
(Business Overview, Solutions Offered, Recent Developments, SWOT Analysis, MnM View)*
13.2 Verint Systems
13.3 Nice Systems
13.4 Callminer
13.5 Avaya
13.6 Calabrio
13.7 Clarabridge
13.8 VOCI Technologies
13.9 Zoom International
13.10 Genesys
13.11 HPE
13.12 Almawave

*Details on Business Overview, Solutions Offered, Recent Developments, SWOT Analysis, MnM View Might Not Be Captured in Case of Unlisted Companies.

14 Appendix
14.1 Key Insights of Industry Experts
14.2 Discussion Guide
14.3 Knowledge Store: Marketsandmarkets’ Subscription Portal
14.4 Introducing RT: Real-Time Market Intelligence
14.5 Available Customization
14.6 Related Reports
14.7 Author Details

List of Tables

Table 1 Speech Analytics Market Size, By Component, 2015–2022 (USD Million)
Table 2 Solutions: Market Size By Region, 2015–2022 (USD Million)
Table 3 Solutions: Market Size By Type, 2015–2022 (USD Million)
Table 4 Speech Engine Market Size, By Region, 2015–2022 (USD Million)
Table 5 Indexing, Analysis, and Query Tools Market Size, By Region, 2015–2022 (USD Million)
Table 6 Reporting and Visualization Tools Market Size, By Region, 2015–2022 (USD Million)
Table 7 Services: Market Size By Region, 2015–2022 (USD Million)
Table 8 Services: Market Size By Type, 2015–2022 (USD Million)
Table 9 Managed Services: Market Size By Region, 2015–2022 (USD Million)
Table 10 Professional Services: Market Size By Region, 2015–2022 (USD Million)
Table 11 Professional Services: Market Size By Type, 2015–2022 (USD Million)
Table 12 Support and Maintenance Market Size, By Region, 2015–2022 (USD Million)
Table 13 Consulting Services Market Size, By Region, 2015–2022 (USD Million)
Table 14 Deployment and Integration Market Size, By Region, 2015–2022 (USD Million)
Table 15 Speech Analytics Market Size, By Application, 2015-2022 (USD Million)
Table 16 Customer Experience Management: Market Size By Region, 2015-2022 (USD Million)
Table 17 Call Monitoring: Market Size By Region, 2015-2022 (USD Million)
Table 18 Agent Performance Monitoring: Market Size By Region, 2015-2022 (USD Million)
Table 19 Sales Performance Management: Market Size By Region, 2015-2022 (USD Million)
Table 20 Competitive Intelligence: Market Size By Region, 2015-2022 (USD Million)
Table 21 Risk and Compliance Management: Market Size By Region, 2015-2022 (USD Million)
Table 22 Others: Market Size By Region, 2015-2022 (USD Million)
Table 23 Speech Analytics Market Size, By Deployment Model, 2015–2022 (USD Million)
Table 24 On-Premises: Market Size By Region, 2015–2022 (USD Million)
Table 25 Cloud: Market Size By Region, 2015–2022 (USD Million)
Table 26 Market Size By Organization Size, 2015–2022 (USD Million)
Table 27 Small and Medium-Sized Enterprises: Market Size By Region, 2015–2022 (USD Million)
Table 28 Large Enterprises: Market Size By Region, 2015–2022 (USD Million)
Table 29 Speech Analytics Market Size, By Industry Vertical, 2015–2022 (USD Million)
Table 30 Banking, Financial Services, and Insurance: Market Size By Region, 2015–2022 (USD Million)
Table 31 Telecommunications and IT: Market Size By Region, 2015–2022 (USD Million)
Table 32 Retail and Ecommerce: Market Size By Region, 2015–2022 (USD Million)
Table 33 Healthcare and Life Sciences: Market Size By Region, 2015–2022 (USD Million)
Table 34 Media and Entertainment: Market Size By Region, 2015–2022 (USD Million)
Table 35 Government and Defense: Market Size By Region, 2015–2022 (USD Million)
Table 36 Energy and Utilities: Market Size By Region, 2015–2022 (USD Million)
Table 37 Travel and Hospitality: Market Size By Region, 2015–2022 (USD Million)
Table 38 Others: Market Size By Region, 2015–2022 (USD Million)
Table 39 Speech Analytics Market Size, By Region, 2015–2022 (USD Million)
Table 40 North America: Market Size By Component, 2015–2022 (USD Million)
Table 41 North America: Market Size By Solution, 2015–2022 (USD Million)
Table 42 North America: Market Size By Service, 2015–2022 (USD Million)
Table 43 North America: Market Size By Professional Service, 2015–2022 (USD Million)
Table 44 North America: Market Size By Application, 2015–2022 (USD Million)
Table 45 North America: Market Size By Deployment Model, 2015–2022 (USD Million)
Table 46 North America: Market Size By Organization Size, 2015–2022 (USD Million)
Table 47 North America: Market Size By Industry Vertical, 2015–2022 (USD Million)
Table 48 Europe: Speech Analytics Market Size, By Component, 2015–2022 (USD Million)
Table 49 Europe: Market Size By Solution, 2015–2022 (USD Million)
Table 50 Europe: Market Size By Service, 2015–2022 (USD Million)
Table 51 Europe: Market Size By Professional Service, 2015–2022 (USD Million)
Table 52 Europe: Market Size By Application, 2015–2022 (USD Million)
Table 53 Europe: Market Size By Deployment Model, 2015–2022 (USD Million)
Table 54 Europe: Market Size By Organization Size, 2015–2022 (USD Million)
Table 55 Europe: Market Size By Industry Vertical, 2015–2022 (USD Million)
Table 56 Asia Pacific: Speech Analytics Market Size, By Component, 2015–2022 (USD Million)
Table 57 Asia Pacific: Market Size By Solution, 2015–2022 (USD Million)
Table 58 Asia Pacific: Market Size By Service, 2015–2022 (USD Million)
Table 59 Asia Pacific: Market Size By Professional Service, 2015–2022 (USD Million)
Table 60 Asia Pacific: Market Size By Application, 2015–2022 (USD Million)
Table 61 Asia Pacific: Market Size By Deployment Model, 2015–2022 (USD Million)
Table 62 Asia Pacific: Market Size By Organization Size, 2015–2022 (USD Million)
Table 63 Asia Pacific: Market Size By Industry Vertical, 2015–2022 (USD Million)
Table 64 Middle East and Africa: Speech Analytics Market Size, By Component, 2015–2022 (USD Million)
Table 65 Middle East and Africa: Market Size By Solution, 2015–2022 (USD Million)
Table 66 Middle East and Africa: Market Size By Service, 2015–2022 (USD Million)
Table 67 Middle East and Africa: Market Size By Professional Service, 2015–2022 (USD Million)
Table 68 Middle East and Africa: Market Size By Application, 2015–2022 (USD Million)
Table 69 Middle East and Africa: Market Size By Deployment Model, 2015–2022 (USD Million)
Table 70 Middle East and Africa: Market Size By Organization Size, 2015–2022 (USD Million)
Table 71 Middle East and Africa: Market Size By Industry Vertical, 2015–2022 (USD Million)
Table 72 Latin America: Speech Analytics Market Size, By Component, 2015–2022 (USD Million)
Table 73 Latin America: Market Size By Solution, 2015–2022 (USD Million)
Table 74 Latin America: Market Size By Service, 2015–2022 (USD Million)
Table 75 Latin America: Market Size By Professional Service, 2015–2022 (USD Million)
Table 76 Latin America: Market Size By Application, 2015–2022 (USD Million)
Table 77 Latin America: Market Size By Deployment Model, 2015–2022 (USD Million)
Table 78 Latin America: Market Size By Organization Size, 2015–2022 (USD Million)
Table 79 Latin America: Market Size By Industry Vertical, 2015–2022 (USD Million)
Table 80 Partnerships, Agreements, and Collaborations, 2015–2017
Table 81 New Product Launches and Product Upgradations, 2016–2017
Table 82 Acquisitions, 2015–2016

List of Figures

Figure 1 Speech Analytics Market Segmentation
Figure 2 Market Regional Segmentation
Figure 3 Market Research Design
Figure 4 Data Triangulation
Figure 5 Market Size Estimation Methodology: Bottom-Up Approach
Figure 6 Market Size Estimation Methodology: Top-Down Approach
Figure 7 Speech Analytics Market: Assumptions
Figure 8 Speech Analytics Market is Poised to Witness Significant Growth in the Global Market During the Forecast Period
Figure 9 Market Snapshot By Component (2017 vs 2022)
Figure 10 Market Snapshot By Service (2017–2022)
Figure 11 Market Snapshot By Application (2017–2022)
Figure 12 Market Snapshot By Deployment Model (2017–2022)
Figure 13 Market Snapshot By Organization Size (2017 vs 2022)
Figure 14 Market Snapshot By Industry Vertical (2017 vs 2022)
Figure 15 The Need to Generate Valuable Insights From the Customer Interactions is Expected to Drive the Speech Analytics Market Growth
Figure 16 North America is Estimated to Have the Largest Market Share in 2017
Figure 17 Banking, Financial Services, and Insurance Industry Vertical, and North America are Estimated to Have the Largest Market Shares in 2017
Figure 18 Asia Pacific is Expected to Be A Lucrative Market for Investments During the Forecast Period
Figure 19 Speech Analytics Market: Drivers, Restraints, Opportunities, and Challenges
Figure 20 Services Segment is Expected to Grow at A Higher CAGR During the Forecast Period
Figure 21 Reporting and Visualization Tools Segment is Expected to Grow at the Highest CAGR During the Forecast Period
Figure 22 Managed Services Segment is Expected to Grow at A Higher CAGR During the Forecast Period
Figure 23 Consulting Services Segment is Expected to Grow at the Highest CAGR During the Forecast Period
Figure 24 Competitive Intelligence Application is Expected to Grow at the Highest CAGR During the Forecast Period
Figure 25 Cloud Deployment Model is Expected to Grow at A Higher CAGR During the Forecast Period
Figure 26 Small and Medium-Sized Enterprises Segment is Expected to Grow at A Higher CAGR During the Forecast Period
Figure 27 Retail and Ecommerce Vertical is Expected to Grow at the Highest CAGR During the Forecast Period
Figure 28 Asia Pacific is Estimated to Grow at the Highest CAGR During the Forecast Period
Figure 29 North America is Projected to Have the Largest Market Share During the Forecast Period
Figure 30 North America: Market Snapshot
Figure 31 Asia Pacific: Market Snapshot
Figure 32 Key Developments By Leading Players in the Speech Analytics Market, 2015–2017
Figure 33 Geographic Revenue Mix of the Top 4 Market Players
Figure 34 Verint Systems: Company Snapshot
Figure 35 Verint Systems: SWOT Analysis
Figure 36 Nice Systems: Company Snapshot
Figure 37 Nice Systems: SWOT Analysis
Figure 38 Callminer: SWOT Analysis
Figure 39 Avaya: Company Snapshot
Figure 40 Avaya: SWOT Analysis
Figure 41 Genesys: SWOT Analysis
Figure 42 HPE: Company Snapshot

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