Speech Analytics Market

1
MarketsandMarkets Presents
Speech Analytics Market worth 1.33 Billion by
2019
http//www.marketsandmarkets.com/Market-Reports/sp
eech-analytics-market-17297779.html
2
The report Speech Analytics Market Solutions
(Speech Engine, Indexing Analysis, Reports
Dashboards), Applications (Business Process,
Agent Performance, Market Intelligence, Risk
Compliance Management CEM) - Worldwide Market
Forecast (2014-2019) defines and segments the
speech analytics market into various sub-segments
with an in-depth analysis and forecasting of
revenues. It also identifies the drivers and
restraints for this market with the insights on
trends, opportunities, and challenges. Browse
more than 69 market data tables with 25 figures
spread through 178 pages and in-depth TOC on
"Speech Analytics Market.http//www.marketsandma
rkets.com/Market-Reports/speech-analytics-market-1
7297779.htmlEarly buyers will receive 10
customization of report. Speech analytics, also
known as audio mining, is used to spot and
analyze spoken words which bring structure to
interactions and reveal the information buried in
customer contact center. It includes elements of
automatic speech recognition where identities of
spoken words are determined. This technology is
used to extract important business intelligence
material which is used to relate it to strategy,
product, process, operational issues, and contact
center agent performance. All this information
helps to give an insight regarding what customers
or clients actually think about their company,
which in turn will help the enterprise to react
quickly in favor of their working
structure. http//www.marketsandmarkets.com
/Market-Reports/cognitive-assessment-market-1039.h
tml
3
The high demand of speech analytics has led to
the invention of new technologies and solutions.
Speech analytics work on three main approaches.
First is the phonetic approach, which is related
to phoneme, a basic unit of language concerned
with the systematic organization of sounds in
language. Second approach is the Large Vocabulary
Continuous Speech Recognition (LVCSR), known for
its full transcription. Its basic unit comprises
some words so, the output needs time to be
processed out making it a slower process. Third
approach is the direct phase recognition which
directly analyzes speech by comparing it with the
pre-defined phrases. This method generally
provides the highest data reliability for overall
business performance management. MarketsandMarket
s has broadly segmented the speech analytics
market by solutions speech engine, indexing and
analysis, query engine, reports and dashboards,
and others by services professional services
and support and maintenance services by
applications business process management, agent
performance management, customer experience
management, market intelligence management, risk
and compliance management, and other
applications by deployment type on-premise and
on-demand by organization size small and medium
businesses (SMBs) and large enterprises by
verticals banking, financial services, and
insurance (BFSI), consumer goods and retail,
healthcare and life science, government, defense
and aerospace , manufacturing, transportation and
logistics, travel and hospitality,
telecommunication and Information Technology
(IT), media and entertainment, public sector,
energy and utilities, outsourcing, and others by
regions North America (NA), Europe, Latin
America (LA), Asia-Pacific (APAC), and Middle
East and Africa (MEA). http//www.marketsand
markets.com/Market-Reports/cognitive-assessment-ma
rket-1039.html
4
Marketsandmarkets believes that the increasing
cost and lack of awareness are the major issues
in the speech analytics market. These challenges
are restraining the enterprises and customers to
adopt speech analytics to support a wide range of
applications such as business process management,
agent performance management, customer experience
management, market intelligence management, risk
and compliance management, and other
applications. The speech analytics market is
estimated to grow from 456 million in 2014 to
1.33 billion in 2019, at a Compound Annual
Growth Rate (CAGR) of 23.9 from 2014 to 2019. In
terms of regions, North America is expected to be
the biggest market in terms of revenue
contribution, while emerging economies such as
Middle East and Africa (MEA), Latin America (LA),
and Asia-Pacific (APAC) are expected to
experience increased market traction with high
CAGRs, in the due course. Marketsandmarkets Mark
etsandMarkets is a global market research and
consulting company based in the U.S. We publish
strategically analyzed market research reports
and serve as a business intelligence partner to
Fortune 500 companies across the world.

Get in touch with us at 1-888-6006-441 or send
email to sales_at_marketsandmarkets.com with your
contact details and questions if any query.