SAN FRANCISCO, January 4, 2017 /PRNewswire/ --
The speech analytics market is expected to reach USD 1.64 billion by 2025, according to a new report by Grand View Research, Inc. The market is estimated to witness a robust growth exceeding a CAGR of 10% over the forecast period. This growth is ascribed to the increasing emphasis by organizations on improving the market intelligence capabilities along with the growing prominence of voice in the multi-channel world.
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The number of contact centers is increasing, resulting in industry players to innovate speech analytics solutions, which help companies understand the changing customer requirements. The technology has been increasingly adopted in consumer electronics devices, including laptops, smartphones, and tablets, as it significantly increases the enterprise's scope as well as improves performance. This, in turn, has resulted in elevating adoption of speech analytics solutions worldwide. In addition, upcoming technologies, such as voice print authentication, are estimated to spur growth over the coming years.
Furthermore, the rising demand for risk management solutions and cloud analytics is also anticipated to favorably impact growth over the next nine years. These solutions offer several growth opportunities as this solution helps optimize performance and enhance customer experience. However, issues pertaining to lack of awareness and rise in cost may pose a challenge to the speech analytics market growth in the near future.
Browse full research report with TOC on "Speech Analytics Market Analysis By Type (Solution, Service), By Deployment (On-Premise, Cloud), By Enterprise Size (Small & Medium Enterprise, Large Enterprise), By End-Use (BFSI, Telecom, IT, Retail, Healthcare, Hospitality) And Segment Forecasts, 2014 - 2025" at: http://www.grandviewresearch.com/industry-analysis/speech-analytics-market
Further key findings from the report suggest:
Browse related reports by Grand View Research:
Grand View Research has segmented the speech analytics market on the basis of type, deployment, enterprise size, end-use, and region:
Access research insight: http://www.grandviewresearch.com/research-insights/speech-analytics-market-need-decipher-insights-customer-data
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
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