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Definition: The speech recognition software is a computer program that allows users to converts human speech input, transcript it into text form, and interprets the voice.

What's Trending in Market:Integration of Artificial Intelligence in the Speech Recognition SoftwareRising Technological Advanacemsnt in the Speech Recognition SoftwareChallenges:Troubleshooting Problem with the Speech Recognition SoftwareRestraints:Privacy Related Issues with the Speech Recognition SoftwareMarket Growth Drivers:Demand for the Speech Recognition Technology in Mobile Phones and Other Digital DevicesEase of Conversion of Text into the Speech Form While Driving Preventing the Hustle of Picking Up Phone for TaskSome of the major and emerging players identified are IBM (United States) Microsoft Corporation (United States), Apple Inc. (United States), Nuance Communications (United States), AT Inc. (United States), Raytheon BBN Technologie (United States), Sensory,  Inc. (United States), Dolbey (United States), LumenVox (United States), Voxeo Corporation (United States).

Global Speech Recognition Software Market Development Scenario by Players Ø Financials Information, Business Overview and Product Specification Matrix Ø Patent Analysis Briefing* [if applicable] Ø No.

Yes, we can add or profile new company as per client need in the report, provided it is available in our coverage list as mentioned in answer to Question 1 and after feasibility run final confirmation will be provided by research team checking the constraints related to difficulty of survey.

2) Can we narrow the available business segments?

What all regional slits covered with covid impact analysis?

May 24, 2019: The speech analytics market is expected to reach USD 1.64 billion by 2025, according to a new report by Grand View Research, Inc.

The market is estimated to witness a robust growth exceeding a CAGR of 10% over the forecast period.

This growth is ascribed to the increasing emphasis by organizations on improving the market intelligence capabilities along with the growing prominence of voice in the multi-channel world.The number of contact centers is increasing, resulting in industry players to innovate speech analytics solutions, which help companies understand the changing customer requirements.

The technology has been increasingly adopted in consumer electronics devices, including laptops, smartphones, and tablets, as it significantly increases the enterprise's scope as well as improves performance.

This, in turn, has resulted in elevating adoption of speech analytics solutions worldwide.

In addition, upcoming technologies, such as voice print authentication, are estimated to spur growth over the coming years.Download sample Copy of This Report at: https://www.radiantinsights.com/research/speech-analytics-market/request-sample Furthermore, the rising demand for risk management solutions and cloud analytics is also anticipated to favorably impact growth over the next nine years.

IT & Telecom, BFSI are the major industries in which speech analytics is used.

As these industries are growing at a good pace, the global speech analytics market is expected to witness growth in the future.

Innovations of solutions are required because of rising demand for risk, compliance management as well as increasing number of contact centers, so these solutions must help companies to understand the changing customer requirements.

however because of higher adoption it will be expected to witness maturity phase with service segment will gain from this help it for doing well in upcoming nine years.The service segment is expected to grow at the at rate more than 8 % of CAGR in forecasted period.

Services are necessary to manage the extensive portfolio of solutions that market offers which help organization to expand business process to gain competitive advantage.Deployment Insights:50% of the total revenue came from the on-premised employment in 2015.system furthermore data was better controlled by On-premise solutions however this segment might witness a sluggish growth because of high cost of deployment methods, requirement of dedicated IT staff for maintenance, requires high-end IT infrastructure as compared to the cloud deployment.As a result of this edge cloud based deployment segment gained a considerable share in 2015 this will drive high demand in the forecasted period.IT, BFSI, Media & entertainment will drive the demand for cloud deployment options.SMEs are also getting cost effective solutions from the New firms in the market.Enterprise Size Insights:40% of total share came from the SMEs in the year 2015 furthermore it will be expected to grow at a CAGR exceeding 8% in forecasted period.

Also cloud analytics will help to increase in the product demand among SMEs.End-Use Insights:Telecom sector accounted over 15% share in 2015 and expected to grow more in the forecasted period.

CallMiner Eureka is a speech analytics and customer engagement platform that’s based on SaaS.

The platform leverages machine learning and AI to transcribe, capture, and reveal insight from 100% of your customer interactions.

Here are brief pointers that show how exactly the CallMiner Eureka works.

Clients are provided with accurate call transcription.

Further, support is integrated with all market-leading email systems, call recorder, popular social networking sites, and chat.

Paul Bernard, President & CEO

Speech Analytics MarketMarket research Future has segmented the speech analytics into type, deployment and organization size.

Types of speech analytics available in the market are Solutions (such as analysis and query tools, dash boards and reporting tool, indexing and speech engine) and Services among others.

The technology is used in several end-users sectors such as BFSI, entertainment, government, retail, IT& Telecom and healthcare among others.The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry.

This increase in customer interaction by use of various channels is acting as a major driving force for business analytics market growth.The interest of organizations to analyze its customers and making decisions for customer’s interest is also boosting the growth of speech analytics market.

The pressure on business is currently to safeguard their intellectual property for gaining efficiency in business operations.

This is done by gaining insights from customer interactions.Commenting on the report, an analyst from Market Research Future (MRFR)’s team said:The demand for speech analytics is derived by increasing competition among organizations, need for customer relationship management (CRM), increasing number of contact centers, and growing importance of customer feedback.

Market ScenarioAccording to a new report by Market Research Future (MRFR), global speech recognition market is expected to reach USD 16 billion at 16% CAGR over the forecast period (2020-2027).

The ability to deliver accurate authentication sets voice apart as a preferred authentication method for online transactions.

Artificial intelligence speech recognition is extensively used in healthcare and automotive sector.

Moreover, the manufacturers are focusing on innovations in their products with the help of voice recognition which will drive the market growth.Request a Free Sample @ https://www.marketresearchfuture.com/sample_request/1815Some of the voice recognition programs is equipped with limited decoding capabilities and lack the ability to understand the context of the language and interpret the content.

Besides, the non-artificial market accounted for the majority of overall share and is predicted to lose its market soon by the end of the review period.The market has been further segmented into military, automotive, finance, government, media & entertainment, healthcare, and others on the basis of verticals where healthcare is expected to showcase the largest market share.Regional AnalysisThe global market for speech recognition is spanned across regions such as Europe, North America, Asia Pacific, and Rest-of-the-World (RoW).North America is one of the leading regions globally owing to the security application in inter-connected and digital devices which is expanding the market growth in this region.

Asia Pacific countries such as India, Japan, and China are a part of the emerging regions in speech recognition market and is expected to grow at the highest CAGR in the years to come due to the presence of a large number of key players.The growth in customer care services in banks, travel, hospitality, and telecom contributes to the growth of the market to combat fraudulent activities in these sectors.

Speech Analytics MarketThe sudden challenges created by the ongoing COVID-19 are captured effectively to exhibit the long term growth projections in the MRFR report on Speech Analytics Market.

The growth sectors of the Speech Analytics Market are identified with precision for a better growth perspective.Speech analytics is a process of analyzing recorded calls for gathering customer information with an objective to improve communication and future interaction with customers.

The process is largely used by customer contact centers for extracting information suppressed in client interactions with the enterprise.

Speech analytics in contact centers is used to mine recorded interactions with customer to surface the intelligence essential for building effective cost control and customer service strategies.According to Market Research Future Analysis, Global Speech Analytics Market has been valued at US $ ~1.75 billion by the end of forecast period with CAGR of ~23% during forecast period 2016 to 2022.Market Research Future (MRFR) recognizes the following companies as the key players in the Global Speech Analytics Market: Verint Systems, Inc. (U.S.), Genesys Telecommunication Laboratories, Inc. (U.S.), Callminer, Inc. (U.S.), NICE Systems Ltd.( Israel), Avaya, Inc.( U.S.), HP Enterprise(U.S.), Calabrio, Inc.(US), Calabridge, Inc.(US), Aspect Software Inc.( U.S.), and Castel communications, LLC (U.S.) among others.Commenting on the report, an analyst from Market Research Future (MRFR)’s team said:The demand for speech analytics is derived by increasing competition among organizations, need for customer relationship management (CRM), increasing number of contact centers, and growing importance of customer feedback.

The need to improve organization market intelligence capabilities and growing prominence of voice across multi-channel is expected to positively impact on speech analytics market growth.

Asia- Pacific will see a rise in the speech analytics market in the forecasted period as contact centers are using this technology to gain insights from customer interaction data.Market research Future has segmented the speech analytics into type, deployment and organization size.

3 February 2020 - IT & Telecom, BFSI are the major industries in which Speech Analytics is used.

As these industries are growing at a good pace, the global speech analytics market is expected to witness growth in the future.

Innovations of solutions are required because of rising demand for risk, compliance management as well as increasing number of contact centers, so these solutions must help companies to understand the changing customer requirements.

however because of higher adoption it will be expected to witness maturity phase with service segment will gain from this help it for doing well in upcoming nine years.The service segment is expected to grow at the at rate more than 8 % of CAGR in forecasted period.

Services are necessary to manage the extensive portfolio of solutions that market offers which help organization to expand business process to gain competitive advantageDeployment Insights:50% of the total revenue came from the on-premised employment in 2015.system furthermore data was better controlled by On-premise solutions however this segment might witness a sluggish growth because of high cost of deployment methods, requirement of dedicated IT staff for maintenance, requires high-end IT infrastructure as compared to the cloud deployment.As a result of this edge cloud based deployment segment gained a considerable share in 2015 this will drive high demand in the forecasted period.IT, BFSI, Media & entertainment will drive the demand for cloud deployment options.SMEs are also getting cost effective solutions from the New firms in the market.Enterprise Size Insights:40% of total share came from the SMEs in the year 2015 furthermore it will be expected to grow at a CAGR exceeding 8% in forecasted period.

Also cloud analytics will help to increase in the product demand among SMEs.End-Use Insights:Telecom sector accounted over 15% share in 2015 and expected to grow more in the forecasted period.