Speech Analytics Market, by Type (Solutions and Services), by Deployment Model (On-Premises and Cloud), by Organization Size (Small and Medium Enterprises and Large Enterprises), by End User Industry (Banking, Financial Services, and Insurance, Telecommunication and IT, Retail and Consumer Goods, Healthcare and Life Sciences, Media and Entertainment, Government, Public Sector, and Utilities, Travel and Hospitality, and Others), and By Region - Global Industry Insights, Trends, Outlook, and Opportunity Analysis, 2018-2026

Speech analytics technology can be utilized to analyze audio data and to gather information related to customer. This helps in improvement of communication and future interaction and overall customer experience. The key application segment of speech analytics technology is contact center due to the requirement to provide better customer satisfaction. This technology is mainly used for detection of emotion, stress, the reason behind the call, and their satisfaction level, that can be identified through customer’s voice. It can also be used to recognize whether the customer is disappointed or unsatisfied with the provided service.

The major drivers responsible for growth of global speech analytics technology market are increasing number of call centers, which demands for more customer satisfaction. According to Coherent Market Insights analysis, in 2015, the U.S. has over 60% of contact centers and the global contact center industry is expected to grow at a CAGR of 12% by 2025. Moreover in 2015, the mass market contact center dominated the global contact center market with over 40% share. Universal center and B2B center accounted about 30% and 32% share of global contact center market respectively, in 2015. These factors are responsible for increasing demand for advanced technology, customer relationship management (CRM), and increasing requirement to provide accurate solutions. These are some major driving factors that are expected to escalate the growth of the overall speech analytics market by 2015. According to Coherent Market Insights analysis, speech analytics technology is one of the fastest growing segments in the contact centers tools industry. The adoption of speech analytics technology grew by over 62% in 2016 and it is anticipated to grow at a 17% growth rate by 2018.

However, high initial cost to implement this solution is expected to restraint the growth of the global speech analytics solutions market.

Speech Analytics Market Taxonomy

On the basis of type, the global speech analytics market is segmented into:

  • Solutions 
  • Services 

On the basis of deployment model, the global speech analytics market is segmented into:

  • On-Premises 
  • Cloud

On the basis of organization size, the global speech analytics market is segmented into:

  • Small and Medium Enterprises 
  • Large Enterprises

On the basis of end user Industry, the global speech analytics market is segmented into:

  • Banking, Financial Services, and Insurance 
  • Telecommunication and IT 
  • Retail and Consumer Goods 
  • Healthcare and Life Sciences 
  • Media and Entertainment 
  • Government, Public Sector, and Utilities 
  • Travel and Hospitality 
  • Others

Speech Analytics Market: Regional Insights

The global speech analytics market is segmented on the basis of regions into North America, Europe, Asia Pacific, Latin America, Middle East, and Africa. Asia Pacific region is expected to be the fastest growing region in the global speech analytics market. Risk and compliance management and major investment in contact centers are the major factors driving the regional market growth. For instance, Tata Consultancy Services (TCS), an India-based company is the prominent contact center service providers, which generated about US$16 billion in 2016.

Speech Analytics Market: Competitive Background

Major players operating in the global speech analytics market include Interactive Intelligence Group, Inc., Nice Systems Ltd., Verint Systems, Avaya, Inc., Genesys Telecommunications Laboratories, Inc., Hewlett-Packard Enterprise, Incontact, Inc., Calabrio, Inc., Callminer, Inc., and Clarabridge, Inc.

Research Methodology

Coherent Market Insights followsa comprehensive research methodology focused on providing the most precise market analysis. The company leverages a data triangulation model which helps company to gauge the market dynamics and provide accurate estimates. Key components of the research methodologies followed for all our market reports include:

  • Primary Research (Trade Surveys and Experts Interviews)
  • Desk Research
  • Proprietor Data Analytics Model

In addition to this, Coherent Market Insights has access to a wide range of the regional and global reputed paid data bases, which helps the company to figure out the regional and global market trends and dynamics. The company analyses the industry from the 360 Degree Perspective i.e. from the Supply Side and Demand Side which enables us to provide granular details of the entire ecosystem for each study. Finally, a Top-Down approach and Bottom-Up approach is followed to arrive at ultimate research findings.


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Coherent Market Insights desk research is based on a principle set of research techniques:

  • National level desk research: It Includes research analysis of regional players, regional regulatory bodies, regional trade associations, and regional organization.
  • Multinational level desk research: The research team keeps a track of multinational players, global regulatory bodies, global trade associations, and global organization.

Coherent Market Insights has a large amount of in-house repository of industry database. This is leveraged as a burner for initiating a new research study. Key secondary sources include:

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  • Company Annual reports, SEC filings, Corporate Presentations, press release, news, and specification sheet of manufacturers, system integrators, brick and mortar - distributors and retailers, and third party online commerce players.
  • Scientific journals, and other technical magazines and whitepapers.
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Preliminary Data Mining

The raw data is obtained through the secondary findings, in house repositories, and trade surveys. It is then filtered to ensure that the relevant information including industry dynamics, trends, and outlook is retained for further research process.

Data Standardization:

Holistic approach is used to ensure that the granular and uncommon parameters are taken into consideration to ensure accurate results. The information from the paid databases are further combined to the raw data in order to standardize it.

Coherent Statistical model

We arrive at our final research findings through simulation models. Coherent Data Analytics Model is a statistical tool that helps company to forecast market estimates. Few of the parameters considered as a part of the statistical model include:

  • Micro-economic indicators
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Data Processing

Once the findings are derived from the statistical model, large volume of data is process to confirm accurate research results. Data analytics and processing tools are adopted to process large chunk of collected informative data. In case, a client customizes the study during the process, the research finding till then are benchmarked, and the process for new research requirement is initiated again.

Data Validation

This is the most crucial stage of the research process. Primary Interviews are conducted to validate the data and analysis. This helps in achieving the following purposes:

  • It provides first-hand information on the market dynamics, outlook, and growth parameters.
  • Industry experts validates the estimates which helps the company to cement the on-going research study.
  • Primary research includes online surveys, face-to face interviews, and telephonic interviews.

The primary research is conducted with the ecosystem players including, but not limited to:

  • Raw Material Suppliers
  • Manufacturers
  • System Integrators
  • Distributors
  • End-users

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