#voice analytics

Speech analytics is rapidly evolving as a critical technology for businesses seeking to enhance customer experience, streamline operations, and uncover actionable intelligence from customer interactions. By automatically capturing and analyzing voice data from calls, meetings, and voice assistants, speech analytics enables organizations to mine valuable insights that were once hidden in vast volumes of verbal communication. This article explores the fundamentals of speech analytics, its advanced applications, and key market trends shaping the future of voice data analysis. Unveiling the Power of Speech Analytics in Modern Business Environments At its core, Speech Analytics refers to the process of capturing, transcribing, and analyzing spoken language from audio recordings or live interaction streams. Traditional call centers, customer support teams, and sales organizations have long relied on manual reviews of recorded calls to assess performance and compliance. However, this manual process is time-consuming, costly, and prone to human error. Speech analytics uses sophisticated algorithms, natural language processing (NLP), and artificial intelligence (AI) to automatically convert speech to text and extract meaningful information related to customer sentiment, trends, and behavioral patterns.

Key Insights from the Speech Analytics Market Study

Dominance of Solutions Segment

In 2022, the solutions segment is poised to dominate the speech analytics market, driven by the rising adoption of speech analytics software across call centers and retail industries. The segment's growth is further propelled by the escalating demand for reporting tools, customer experience solutions, and compliance management tools.

Sales and Marketing Management Leading the Way

Within the realm of applications, sales and marketing management emerges as the dominant segment, fueled by the need for improved customer experience and effective sales strategies. The segment's growth is underpinned by the rising demand for call monitoring solutions, sentiment analysis, and the identification of cross-selling opportunities.

IT & Telecommunications Spearheading Market Growth

The IT & telecommunications sector is slated to lead the speech analytics market in 2022, driven by the increasing demand for actionable insights among telecom companies. Factors such as customer retention strategies, cross-selling initiatives, and data analytics contribute to the sector's dominance.

Asia-Pacific: A Hotbed of Growth

In 2022, the Asia-Pacific region is poised to witness the highest CAGR, fueled by escalating technology expenditures and the growing adoption of speech analytics solutions among SMEs. Countries like Australia, China, and India are at the forefront of this growth, driven by a surge in technology adoption and increased awareness of speech recognition technologies.

Key Players

The key players operating in the global speech analytics market are NICE Ltd. (Israel), Verint Systems Inc. (U.S.), CallMiner, Inc. (U.S.), Genesys Cloud Services, Inc. (U.S.), Avaya Holdings Corp. (U.S.), Audio Analytic Ltd. (U.K.), Calabrio, Inc. (U.S.), Batvoice Technologies (France), Qualtrics, LLC (U.S.), Dialpad, Inc. (U.S.), WinterLight Labs (Canada), The Plum Group, Inc. (U.S.), Aural Analytics, Inc (U.S.), Amazon.com, Inc. (U.S.), Uniphore Technologies Inc. (India), Intelligent Voice Ltd (U.K.), Kwantics (India), Gnani Innovations Private Limited (India), and SAS Institute Inc. (U.S.).

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Key questions answered in the report-

Which are the high-growth market segments in terms of the component, application, organization size, deployment mode, and end-use industries?

What is the historical market for speech analytics market across the globe?

What are the market forecasts and estimates for the period of 2022–2029?

What are the major drivers, restraints, and opportunities in the global speech analytics market?

Who are the major players in the global speech analytics market, and what share of the market do they hold?

How is the competitive landscape?

What are the recent developments in the global speech analytics market?

What are the different strategies adopted by the major players in the market?

What are the geographic trends and high-growth countries?

Who are the local emerging players in the global speech analytics market, and how do they compete with the other players?

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#Nemesysco Empowers Emotion Detection and #Analysis Service for Leading Outsourced #CallCenter Operation in Japan #CENTRIC #VoiceAlaytics

 Nemesysco, a leading provider voice analytics technologies and solutions for genuine emotion detection, announced that CENTRIC, a prominent provider of outsourced call center services in Japan, is using the company’s core QA7™ and Layered Voice Analysis (LVA™) technologies in its award-winning Deep SEA service.

CENTRIC is headquartered in Tokyo and maintains three call centers across Japan. As…

The software of voice analytics comes with enormous advantages. It is widely used by various kinds of industries such as financial services, healthcare, insurance, and technology. Businesses can really benefit from this technology as it gives great insight into customer requirements.

It also comes with a call analytics dashboard that tracks live calls activity from a centralized place. The managers and admins have access to all their team members. Team members can access the account from their account.

The evaluation of voice helps in figuring-out that your client requires an on-premise solution or a flexible option. It makes you clear on your project goals as they let you understand the client’s requirements and develop your project accordingly.

The most useful benefit this technology has given is analyzing the call in real-time. It allows managers to review and analyze data of client communication in real-time and removes any issues that take place at the same time.  It allows agents to manage their own performance. As they got quick access and insights into the performance of calls, it positively motivates the employees.