According to a research report “Voice Analytics Market by Component (Solution and Services), Application (Sentiment Analysis, Sales and Marketing Management, and Call Monitoring), Deployment Model, Organization Size, Vertical, and Region — Global Forecast to 2024”, published by MarketsandMarkets, The voice analytics market size is expected to grow from USD 657 million in 2019 to USD 1,597 million by 2024, at a Compound Annual Growth Rate (CAGR) of 19.4% during the forecast period. The key factors driving the voice analytics market include growing need to extract insights from customer interactions, rising demand to monitor agent performance.
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Sales and marketing management application segment to hold the largest market size during the forecast period
Voice analytics solution helps sales and marketing teams in the organization to implement best sales and marketing practices, such as best offers to target customers; and establishing a standard governance process for sales and marketing data. The sales performance management application lets companies improve their overall sales performance and operational efficiencies with a proper understanding of the incentive and compensation plans, and smarter administration of training programs along with performance monitoring metrics.
Services segment to grow at a higher CAGR during the forecast period
Based on components, the voice analytics market is segmented into solution and services. The services segment is expected to grow at a higher CAGR during the forecast period. Professional services and managed services help enterprises in building successful client relationships by continuously supporting them through their business tenure. Support and maintenance services help organizations understand the changing business conditions, client insights, market trends, or service inconveniences and help in the creation of corporate branding and marketing campaigns.
North America to account for the largest market size during the forecast period
North America is expected to account for the largest market size in the overall voice analytics market during the forecast period. This region houses some of the major vendors, such as Verint, Avaya, ThoughtSpot, and RankMiner. These players have their headquarters and direct sales offices in the region.
Market Players
Some of the major solution providers of Voice Analytics Market are Verint Systems (US), NICE (Israel), Avaya (US), ThoughtSpot (US), Uniphore (India), Calabrio (US), Talkdesk (US), RankMiner (US), VoiceBase (US), Beyond Verbal (Israel), VoiceSense (Israel), SESTEK (Turkey), audEERING (Germany), Invoca (US), and Xdroid (Hungary). The study includes an in-depth competitive analysis of these key players in the voice analytics market with their company profiles, recent developments, and key market strategies.
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Customer Analytics Market, By Solution (Web Analytical Tools, Social Analysis Tool, Reporting), By Service (Professional Service, Support and Maintenance Service), By Deployment (Cloud, On-Premise) - Global Forecast 2027Market SynopsisAccording to the customer analytics market size expected to grow at approximately USD 7.3 Billion by 2027, at 15% of CAGR between 2020 and 2027.Get a Free Sample @ https://www.marketresearchfuture.com/sample_request/3777Market ScenarioThe main drivers of the market for customer analytics are that competition between companies and increasing demand for better customer service is fueling the growth of the market for customer analytics.
Throughout the retail sector, consumer analytics is used extensively to develop customized interactions and marketing programmes.
Social media analytics incorporates tracking, measurement and analysis tools to reveal consumer and company feelings with customers through social media platforms by linking their product list with e-commerce sites, The growing demand and ownership of smartphones has created the illusion that they are advertising mobile value-added services right around the corner.
Constant customer-specific modification and optimization of services is expected to have a positive impact on telecom operators and service providers in the mobile value-added services market , particularly in the education, advertisement, and IT and telecommunications industries.
Social media analysis tools allow company to gain competitive advantage by improving business awareness, enhancing product and service processes, providing deep insight into consumer purchasing behaviour and promoting industry innovation.Based on deployment, the voice of customer analytics market is segmented into cloud and on-premise.
The study indicates that growing demand of digitally stored data and cloud computing is driving the on-premise deployment service.Customer analytics Market by Organization Size, is segmented into Small & Medium Enterprises and Large Enterprises.Customer analytic Market by Vertical, is segmented into Government & Defence, BFSI, IT & Telecommunication, Healthcare, Retail, Manufacturing, Travel & Hospitality, Transportation & Logistics, media & Entertainment and OthersRegional OutlookThe regional analysis of customer analytics market has been conducted on Asia pacific, Americas, Europe and Rest of the World.
