Europe Speech Analytics Market to Grow at Impressive Rate through 2028
Increased development and upgrading of Speech Analytics
software is expected to drive the market of the Europe Speech Analytics Market in
the forecast period of 2024-2028.
According to TechSci
Research report, Europe Speech Analytics Market- By Country, Competition
Forecast & Opportunities, 2018-2028 the Europe GPS Tracking Device Market
is expected to register robust growth during the forecast period, 2023-2028.
Europe Speech Analytics
market to experience a significant growth rate throughout the expected period,
which may be primarily due to the reviving economy and is driving expansion in multiple
end-use industries, including manufacturing, retail, telecom, healthcare, and
BFSI. Over the next few years, product demand may be significantly boosted by
IT changes to the current networking infrastructure.
Speech analytics
technologies are being increasingly used by SMEs and corporate entities in
Europe to increase company efficiency, lower the Total Cost of Ownership (TCO),
provide scalable, high-performance, and dependable web and application
infrastructure, and enhance data security. Over the coming years, market demand
is expected to increase due to privacy compliance laws, growing worries about
data breaches, and increased usage of cloud, Internet of Things (IoT), and
mobile technologies.
Some of the key strategies
used by industry players to maintain competitive edge include mergers and
acquisitions, partnerships, and collaborations. To improve product conformity,
original equipment manufacturers are collaborating with service providers.
Market players are spending significantly
on research and development to improve the technological correctness of their
products. Moreover, the speech analytics market is expected to grow in that
trend as a result of industry's experience with the advent of new technologies,
such as voiceprint authentication and biometric authentication.
Browse over XX market
data Figures spread through XX Pages and an in-depth TOC on "Europe Speech Analytics Market"
The Speech Analytics market is segmented
into Component, Deployment Mode, Organization Size, Application, End-User.
Based on Component, the market is segmented into Service, Solution. Based on
Deployment Mode, the market is segmented into Cloud, and On-Premises. Based on
Organization Size, the market is divided into SMEs, and Large Enterprise. Based
on Application, it is categorized into Call Monitoring, Customer Experience
Management, Agent Performance Monitoring, Sales Performance Management,
Competitive Intelligence, Risk and Compliance Management, and Others. Based on
End-user, the market is segregated into BFSI, Government & Defense, Retail
and eCommerce, Travel and Hospitality, Healthcare and Life Sciences, Energy and
Utilities, Media and Entertainment, Travel and Hospitality, Telecommunications
and IT, and Others.
The
speech analytics solution is expected to dominate the market from 2024 to 2028,
over the forecast period. This is owing to growing trends of analytical
insights from customer interaction data.
Cloud
Deployment is gaining popularity in many industry sectors while also
driving down operating expenses. Cloud-based services are being offered by emerging
companies to give SMEs’ affordable options. This has forced existing businesses
to stay updated with the rapidly evolving speech analytics technology and offer
creative solutions, which are expected to increase market growth.
Small
and medium-sized businesses (SMEs) accounted for a significant part of the
market in 2022, and this growth is predicted to continue. This expansion is
related to the expanding availability of cloud services. Additionally, SMEs are
working with research institutes to build cutting-edge spoken conversation
systems, tools for fine-tuning voice applications, and speech analytics
solutions, which is fueling the demand for the solution.
Key market players in the Europe Speech Analytics
market:
- ASC Technologies
- Avaya, Inc
- Calabrio, Inc
- Call Miner
- Clarabridge
- GemaTech Ltd
- Genesys
- New Voice Media
- Nice Systems
- OnviSource, Inc
Download Free Sample Report
Customers
can also request for 10% free customization on this report.
“One of the key factors propelling the speech analytics market in the European region is the growing requirement for market intelligence to combat the fierce competition. The majority of businesses are using speech analytics to get business intelligence using contemporary marketing techniques. Businesses can assist their marketing efforts by using call analysis to monitor trends, hear from customers, and listen to their opinions. Europe market is rising due to the rising number of cyberattacks and the dynamic nature of the security sector. It is essential to safeguard sensitive financial data from breaches while minimizing risk and maximizing rewards. The segment exhibits higher potential for the use of voice analytics as banking institutions migrate to the cloud. Financial companies can protect sensitive information and enhance customer service by using speech analytics. It contributes to the provision of an accurate and trustworthy audit trail of oral agreements between borrowers and consumers, which has increased demand in the BFSI sector.” said, Mr. Karan Chechi, Research Director with TechSci Research, a research-based management consulting firm.
“Europe Speech Analytics Market
Segmented By Component (Service, Solution), By Deployment Mode (Cloud,
On-Premises), By Organization Size (SMEs, Large Enterprise), By Application
(Call Monitoring, Customer Experience Management, Agent Performance Monitoring,
Sales Performance Management, Competitive Intelligence, Risk and Compliance
Management, Others), By End-user (BFSI, Government & Defense, Retail and
eCommerce, Travel and Hospitality, Healthcare and Life Sciences, Energy and
Utilities, Media and Entertainment, Travel and Hospitality, Telecommunications
and IT, Others) By Region, Competition, Opportunity, and Forecast. 2018-2028F has
evaluated the future growth potential of Speech Analytics Market and provides
statistics & information on market size, structure, and future market
growth. The report intends to provide cutting-edge market intelligence and help
decision makers take sound investment decisions. Besides, the report also
identifies and analyzes the emerging trends along with essential drivers,
challenges, and opportunities in Europe Speech Analytics Market.
Contact
Mr. Ken Mathews
708 Third Avenue,
Manhattan, NY,
New York – 10017
Tel: +1-646-360-1656
Email: [email protected]
Website: https://www.techsciresearch.com