North America Speech Analytics Market Report and Forecast 2024-2032

North America Speech Analytics Market Outlook

The North America speech analytics market size reached approximately USD 2.76 billion in 2023. The market is further projected to grow at a CAGR of 16.8% between 2024 and 2032, reaching a value of USD 11.33 billion by 2032.

Key Trends in the Market

Speech analytics refers to the process of extracting information from audio recordings and analysing the data for meaningful and relevant business intelligence. The different types of speech analytics include real time speech analytics and post-call speech analytics. It aids in increasing customer satisfaction, improving agent performance and resolution rates, and driving operational efficiency.

• The rising adoption of digital technologies across different sectors to provide regular availability of business communication channels, seamless self-service options, and rapid response to queries, among others is boosting the North America speech analytics market growth.

• Increasing efforts by the key market players towards product innovation along with strategic collaborations and partnerships is providing lucrative growth opportunities to the market. These efforts are anticipated to provide real time suggestions to customer service representatives for enhancing their performance and evaluating the results.

• The rising requirement for speech analytics by the telecommunications sector owing to the generation of large volumes of data is bolstering the market expansion. The increased adoption of speech analytics by the telecommunications sector can also be attributed to their ability to provide improved services, decrease fraud, and reduce risks, among others.

North America Speech Analytics Market Analysis

On the basis of type, the market is bifurcated into solution and services. Based on deployment mode, the market is divided into on-premises and cloud. On the basis of enterprise size, the market is segregated into large enterprises ad small and medium enterprises.

Based on end-user, the market is classified into BFSI, healthcare, government, retail, and telecommunications, among others. On the basis of country, the North America speech analytics market segmentation includes United States of America and Canada.

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the market, covering their competitive landscape and latest developments like mergers, acquisitions, investments, and expansion plans.

• Open Text Corporation 

• Nice Ltd. 

• Verint System Inc. 

• Avaya LLC  

• Castel Communications 

• Talkdesk, Inc. 

• Qualtrics LLC 

• LivePerson, Inc. (VoiceBase, Inc.) 

• Genesys Cloud Services, Inc. 

• CallMiner Inc. 

• Others

Market Share by Deployment Mode

Cloud is anticipated to account for a significant North America speech analytics market share over the forecast period. This growth can be attributed to the ability of the cloud-based speech analytics to aid in efficient consumer management across the customer life cycle, boosting profits. Cloud also ensures the accessibility across locations and devices while providing centralised data security and rapid application deployment.

Market Share by End-User

Telecommunications sector accounts for a significant share of the market owing to the rising requirement for accurate assessment of large amounts of data. The North America speech analytics market demand is also increasing due to the ability of the technology to assist in identifying potential dangers along with providing real time insights. Additionally, speech analytics also allows telecommunications companies to enhance their campaigns and business development.

Competitive Landscape

Open Text Corporation, headquartered in Waterloo, Canada, is involved in the development and sale of speech analytics and enterprise information management software. The company also specialises in customer experience management, digital experience, and customer communication management, among others.

Nice Ltd., headquartered in Ra'anana, Israel, specialises in artificial intelligence, speech analytics, digital and workforce engagement management solutions, and customer relations management software, among others. The company was founded in 1986.

Verint System Inc. is a leading IT services and consulting company that was founded in 1994 and is headquartered in New York, United States. The company specialises in speech analytics, boundless customer engagement, engagement management, artificial intelligence, and chatbots, among others.

Other North America speech analytics market key players include Avaya LLC, Castel Communications, Talkdesk, Inc., Qualtrics LLC, LivePerson, Inc. (VoiceBase, Inc.), Genesys Cloud Services, Inc., and CallMiner Inc., among others.

Key Highlights of the Report

North America Speech Analytics Market Report Snapshots

North America Speech Analytics Market Size

North America Speech Analytics Market Trends

North America Speech Analytics Market Analysis

North America Speech Analytics Companies