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Voice and Speech Analytics Market size is set to grow by USD 2.56 billion from 2023-2027, Growth in emotion analytics to boost the market growth, Technavio

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NEW YORK, July 10, 2024 /PRNewswire/ — The global voice and speech analytics market is experiencing robust growth, driven primarily by increasing adoption of emotion analytics and AI integration. According to Technavio, the market is projected to grow by USD 2.56 billion from 2023 to 2027, at a CAGR of 16.35%. Emotion analytics is a key driver, enhancing customer experience and operational efficiency. However, challenges such as accuracy issues persist. Major players include Avaya Inc., Calabrio Inc., CallMiner Inc., NICE Ltd., and Verint Systems Inc., among others.

Get a detailed analysis on regions, market segments, customer landscape, and companies – Click for the snapshot of this report

Forecast period

2023-2027

Base Year

2022

Historic Data

2017 – 2021

Segment Covered

End-user (Large enterprise, Small, and medium enterprise), Component (Solution and Services), and Geography (North America, Europe, APAC, South America, and Middle East and Africa)

Region Covered

North America, Europe, APAC, South America, and Middle East and Africa

Key companies profiled

Avaya Inc., Calabrio Inc., CallMiner Inc., Castel Communications LLC, Dialpad Inc., Enghouse Systems Ltd., Invoca Inc., Liveperson Inc., Marchex Inc, NICE Ltd., Qualtrics LLC, Sabio Ltd. Co., Talkdesk Inc., ThoughtSpot Inc., Uniphore Technologies Inc., Verint Systems Inc., Voci Technologies Inc., VoiceSense Ltd, audEERING GmbH, and Genesys Telecommunications Laboratories Inc.

Key Market Trends Fueling Growth

The voice and speech analytics market is witnessing a significant trend with the integration of Artificial Intelligence (AI). This integration enhances the efficiency of voice and speech data categorization using machine learning. With the increasing volume and variety of unstructured voice and speech data, AI-based analysis becomes essential. AI enables automatic and efficient analysis of words, acoustics, and sentiments, revealing hidden opinions and emotions. Conventional solutions struggle with real-time analysis of minute conversation details. AI-integrated platforms optimize pattern recognition, providing proactive and real-time insights, particularly in customer management. This trend is positively impacting the global voice and speech analytics market. 

The Voice and Speech Analytics market is thriving with trends like Speech recognition, Machine Learning, and Natural Language Processing (NLP) leading the way. These technologies enable the extraction of valuable insights from Vocal words and Text records. Analytical tools use Patterns and Keywords to understand Customer sentiment, likings, and needs. Speech technology is transforming Contact centers, improving Agent productivity, and enhancing the Positive consumer experience. Speech analytical solutions aid Call center-based companies in addressing Low satisfaction rates, Non-compliance, and Staff quality assurance. Flexible and Scalable AI/ML-driven systems collect and analyze Voice records to provide actionable insights for Account Recovery, Agent improvement, and Customer support processes. Businesses leverage these intelligent systems to address Customer concerns, Requests, and Sentiments, saving Time and Money. 

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Market Challenges

The voice and speech analytics market faces a significant challenge in delivering accurate and comprehensive analysis due to the intricate nature of voice and speech data. Humans use voice and speech to convey emotions and behaviors, making them complex subjects for software solutions to understand. Voice and speech are contextual and subjective, leading to potential inaccuracies and biases in the analysis provided by voice and speech analytics solutions. These solutions can only analyze a limited range of universally recognized voice and speech patterns, relying on assumptions and data extrapolation for the remainder. As a result, the market may experience hindered growth due to the uncertainty and potential inaccuracies of the insights generated by voice and speech analytics solutions.The Voice and Speech Analytics market is growing rapidly, offering valuable insights from customer interactions for businesses. However, challenges persist. Data security is a major concern, with personal data and sensitive information at risk during collection and file sharing. Cost of solutions can be high, making it difficult for some contact center professionals to adopt. Deployment analysis reveals cloud-based solutions are preferred due to lower IT infrastructure costs, but on-premise solutions offer greater control. LiveVox survey reveals price, internal resources, and compliance monitoring as key factors in decision-making. Deep analytics provide customer preferences, competitor insights, and compliance monitoring, but risk management and agent performance monitoring are also crucial. Startek highlights the need for a holistic approach, considering call drivers and root reasons, enterprise type analysis, and customer experience management. SMEs prioritize customer service, digital customer experience, efficiency, and sensitive data protection. Training is essential to maximize the benefits of voice and speech analytics.

For more insights on driver and challenges – Download a Sample Report

Segment Overview 

This voice and speech analytics market report extensively covers market segmentation by

End-user 1.1 Large enterprise1.2 Small1.3 medium enterpriseComponent 2.1 Solution2.2 ServicesGeography 3.1 North America3.2 Europe3.3 APAC3.4 South America3.5 Middle East and Africa

1.1 Large enterprise-  The voice and speech analytics market in the large enterprise segment is growing due to the need for automated quality assurance processes and increased compliance with regulations. With numerous departments and expanding workforces in large organizations, advanced voice and speech analytics solutions are in high demand. These solutions enable the identification and categorization of customers through analysis of transcript data, providing insights for strategic decision-making. Handling a large volume of data from various channels such as chats, voice mails, voice calls, and voice messages necessitates comprehensive analysis. Voice and speech analytics solutions can analyze communication data across platforms, offering valuable insights. Additionally, these solutions provide services like mapping the customer journey on an individual level, monitoring interaction frequency and subject matter, and offering personalized services, enhancing customer satisfaction and loyalty. Large enterprises benefit from automating and enhancing existing processes through voice and speech analytics, making it a key driver for adoption in this segment and the market as a whole during the forecast period.

For more information on market segmentation with geographical analysis including forecast (2023-2027) and historic data (2017 – 2021)  – Download a Sample Report

Research Analysis

Voice and speech analytics is a technology that uses speech recognition, machine learning, and natural language processing to extract valuable insights from vocal words and text-based customer interactions. This analytical tool identifies patterns, keywords, and key phrases from voice records to understand customer sentiment, likes, needs, and preferences. It is particularly useful for contact centers, improving agent productivity, customer satisfaction, and performance. Speech technology enables call center-based companies to collect and analyze data at scale, providing flexibility and scalability to meet business demands. Speech analytical solutions help businesses improve their customer support processes, reduce low satisfaction rates, and provide timely remediations. Additionally, speech analytics can assist in staff quality assurance, account recovery, non-compliance, and other areas, ultimately leading to a positive consumer experience and cost savings.

Market Research Overview

Voice and speech analytics is a technology that uses speech recognition, machine learning, and natural language processing to extract valuable insights from vocal words in voice records. This unstructured data is transformed into text for analysis using analytical tools. Key patterns, keywords, customer sentiment, likings, and needs are identified to improve customer experience, agent productivity, and performance. Speech technology is increasingly being adopted by call center-based companies to enhance the positive consumer experience, reduce low satisfaction rates, and address customer concerns and requests in real time. Speech analytical solutions offer predictive insights, root causes of issues, and remediations to businesses, helping them optimize customer support processes and sales effectiveness. AI/ML algorithms analyze unstructured data, including agent’s soft-skill behaviors, to identify trends, customer churn, and competitor insights. Deployment options include cloud-based solutions and on-premise, with considerations for privacy concerns, data security, cost of solutions, and IT infrastructure. Deep analytics provides valuable insights into customer preferences, compliance monitoring, and agent performance monitoring.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

End-userLarge EnterpriseSmallMedium EnterpriseComponentSolutionServicesGeographyNorth AmericaEuropeAPACSouth AmericaMiddle East And Africa

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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SOURCE Technavio

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Siemon Appoints Trey Somers as Vice President of Product Management

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The Siemon Company, a global leader in network infrastructure solutions, announces the appointment of Trey Somers as Vice President of Product Management, effective Monday, July 15th, 2024.

WATERTOWN, Conn., July 20, 2024 /PRNewswire-PRWeb/ — The Siemon Company, a global leader in network infrastructure solutions, announces the appointment of Trey Somers as Vice President of Product Management, effective Monday, July 15th, 2024. In this role, Somers will lead Siemon’s global product management team and drive the development of innovative solutions that meet the evolving needs of the market. With a distinguished career spanning over two decades in the industry, Somers brings a wealth of experience in enterprise product management, OEM product management, and consulting services. Most recently, he served as Managing Director at Align Communications where he successfully led a team delivering smart building solutions to major financial institutions across the globe. “We are thrilled to welcome Trey to the Siemon team,” said Henry Siemon, President and CEO. “His deep industry knowledge and proven track record in product management make him an invaluable asset to our organization. We are confident that under Trey’s leadership, Siemon will continue to deliver cutting-edge solutions that drive customer success.” In his new role, Somers will oversee both the OEM and Enterprise Product Management teams, combining them into a unified global product management organization. He will also collaborate closely with the marketing team to align product development with current market needs and developing industry trends. “I am excited to join the Siemon team and contribute to the company’s continued growth and success,” said Trey Somers, Vice President of Product Management. “Siemon has CONNECTING THE WORLD TO A HIGHER STANDARD www.siemon.com a strong reputation for innovation and customer focus. I look forward to working with the team to develop groundbreaking solutions that address the challenges and opportunities of today’s dynamic market.” Learn more about Siemon at www.siemon.com.

“We are thrilled to welcome Trey to the Siemon team,” said Henry Siemon, President and CEO. “His deep industry knowledge and proven track record in product management make him an invaluable asset to our organization.”

About Siemon – Established in 1903, Siemon is an industry leader specializing in the design and manufacture of high-quality, high-performance IT infrastructure solutions and services for Data Centers, LANs, and Intelligent Buildings. Headquartered in Connecticut, USA, with global sales, technical, and logistics expertise spanning 150 countries, Siemon offers the most comprehensive suites of copper and optical fiber cabling systems, racks, cable management, and Intelligent Infrastructure Management solutions. With more than 400 patents specific to structured cabling, Siemon Labs invests heavily in R&D and the development of Industry Standards, underlining the company’s long-standing commitment to its customers and the industry. Through an ongoing commitment to waste and energy reduction, Siemon’s environmental sustainability benchmarks are unparalleled in the industry.

Contact Information: Brian Baum, brian_baum@siemon.com

Media Contact

Brian Baum, Siemon, 1 860 945-4213, brian_baum@siemon.com

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Online Generator Seller Announces Cummins 7-Day Inflation Fighter Discount For Homeowners

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Cordova, Tennessee based Buckeye Power Systems, LLC announced its partnership with Cummins Power Generation and a 7-day inflation fighting 5% discount on the popular Cummins 20kW RS20A air-cooled home standby generator. The discount applies for purchases between July 25th and August 1st, 2024.

CORDOVA, Tenn., July 20, 2024 /PRNewswire-PRWeb/ — Cordova, Tennessee based Buckeye Power Systems, LLC announced its participation with Cummins Power Generation and its 7-day 5% discount for homeowners on the popular RS20A 20kW HSB air-cooled home standby generator. The discount also applies to the RS20AC kit which includes a 200-Amp Automatic Transfer Switch. The discount applies for purchases between July 25th and August 1st, 2024.

“The 7-day special discount applies to Cummins 20kW air-cooled home standby generator which is also its most popular model.”

David Richey, president of Buckeye Power Systems, said today, “The 7-day special discount applies to Cummins 20kW air-cooled home standby generator which is also its most popular model. The 20kW generator provides whole house coverage for homes up to 2000 square feet. The same generator also provides managed whole house coverage for homes up to 3000 square feet.”

Richey said the Cummins 20kW includes a built-in load management feature which manages the operation of high-power consumers like air conditioners, kitchen ovens, and clothes dryers. “The load management feature prevents certain loads from operating when the generator is already operating at or near peak performance,” Richey continued. “So, the RS20A offers managed whole house coverage for homes up to 3000 square feet.”

When fueled by natural gas, homeowners enjoy an unlimited supply of fuel from their utility supplier, thus eliminating the need for fuel storage. The same generator can also be fueled by liquid-propane (LP). A 5-year manufacturer’s warranty is standard and extended warranty coverage up to 10 years is available as an option.

In the current inflationary economic environment, the price rollback should be warmly welcomed among homeowners looking for special deals on standby power. The Buckeye Power Systems website currently offers the Cummins RS20A for $5,069 with no sales tax in most states, less the $253.45 discount. The Cummins RS20AC kit includes a 200-Amp Automatic Transfer Switch and is offered for $5995 less a $299.75 discount during the 7-day special promotion.

Buckeye Power Systems is also offering a $500 VISA Gift Card for purchase of the two other Cummins air-cooled home standby generators including the 13kW Cummins RS13A and the 17kW Cummins RS17A.

Media Contact

Steve Baker, Buckeye Power Systems, LLC, 1 19013798097, steve@benchmarkelectric.us, https://buckeyepowersystems.com

David Richey, Buckeye Power Systems, LLC, 1 9013798097, david@buckeyepowersystems.com, https://buckeyepowersystems.com

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SOURCE Buckeye Power Systems, LLC

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UBX Cloud Creates A Rapid Solution To The Crowdstrike Outage Affecting Millions Worldwide.

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Download the newest version of the “CrowdFix” update on UBX Cloud’s website.

DETROIT, July 20, 2024 /PRNewswire-PRWeb/ — UBX Cloud, a dedicated cloud hosting provider with experience in IT solutions on a global scale, has developed a safe automated repair for the CrowdStrike outage that has affected millions worldwide. The new update has been named “CrowdFix” by UBX Engineers. The solution has been tested on thousands of servers that UBX Engineers manage internally with results that work highly efficiently.

“Our engineers have developed a countermeasure within 2.5 hours after the first reported incident. I appreciate the team working to create a solution that makes it simple, effective, and secure.” – Steven Panovski, President and Founder of UBX Cloud.

“Our engineers have developed a countermeasure within 2.5 hours after the first reported incident. I appreciate the team working to create a solution that makes it simple, effective, and secure,” stated Steven Panovski, President and Founder of UBX Cloud.

CrowdFix Solution Developed by UBX Cloud

To implement the CrowdFix solution, Engineers can simply boot the CrowdFix ISO on the impacted system and it’ll automatically detect all attached disks on the system, while deleting the CrowdStrike related files that are preventing impacted Windows systems. Administrative access or restoration from the backups isn’t required.

For step-by-step instructions on implementing the CrowdFix, please view the documentation in or video to implement. Complete Disclaimer will be listed on our company blog.

Instructions are to boot the ISO file and run the batch file.
Primary LINK 1: http://ubx.link/csfix
Alternate LINK: TBA

Filename: WinPE_UBXCloud_CSFix103.iso
MD5 Hashes: 623c3e11895dda4015bd02f0f8b49313e1fdf2806c961f71d41fbdc96cdc03b5
Size: 380 MB

UBX Cloud Inc.

UBX Cloud is a global IT and Engineering company founded in Michigan in 2008. After steady growth, they opened a new satellite office in India. The company has a team of Engineers working to develop and manage cloud solutions for businesses around the world. This ensures business continuity and secure cloud solutions that give customers peace of mind. To learn more about partnering with UBX Cloud on secure cloud solutions and managed services, please visit the website and contact the team.

With the growing dependence on technology and software solutions, it’s even more important for cloud service providers to develop solutions that support the overall architecture and framework of interconnectivity.

“We’re happy to develop a solution that supports business continuity and operations worldwide. Our team is dedicated to helping customers and the industry at large with cybersecurity and IT solutions that bring value. I especially want to thank our Engineer Mohammed Ali, for developing the solution rapidly,” Steven Panovski said passionately.

In addition to the CrowdFix solution, UBX Cloud previously supported other large enterprises with cybersecurity and cloud solutions. They’re quickly becoming a resource for Engineers across the globe that collaborate on developing technology solutions.

For more information, please visit UBX Cloud’s website at https://www.ubxcloud.com.

UBX Cloud LinkedIn

Media Contact

Carrie Stapleford, UBX Cloud, 1 (586) 808-5000, oop@ubxcloud.com, https://www.ubxcloud.com/

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