Contact Centers Speech Market Scope
Due to the growing adoption of virtualized & cloud-based contact centres, faster implementation, remote access of business value & flexibility, and simple maintenance process, this is some of the factors which are expected to drive the market of contact center during the forecast period. However, the rise in privacy concerns and data security is expected to hinder the market growth. The contact centres speech is the automate system for generating business insights, it helps in turning speeches into texts making it easier to analyse the audio content. It helps in understanding the sentiment of customers and improves the customer experience. Call centre managers are using speech analytics to monitor the conversation between the call centre agents and customers.
The Contact Centers Speech market study is segmented by Type (Software and Service) and major geographies with country level break-up.
The market is fragmented by key vendors who are focusing on technilogical development, improving efficiency and standard of speech. Growth opportunities can be captured by tracking the ongoing process improvement and financial flexibility to invest in optimal strategies
Altitude Software (Portugal), Five9 (United States), Ozonetel (United States), SAP (Germany), Lumenvox (United States), Spok (United States), Intrasoft (Greece), Clarabridge (United States), Jacada (Israel), Medallia, Inc., Verint Systems (United States) and Ameyoengage (United States) are some of the key players that are part of study coverage.
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a
preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from total available market.
Segmentation Overview
AdvanceMarketAnalytics has segmented the market of Global Contact Centers Speech market by Type, Application and Region.
On the basis of geography, the market of Contact Centers Speech has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
Market Leaders and their expansionary development strategies
On 12th January 2020, Clarabridge announced that the Clarabridge CX Analytics solution now integrates with Amazon Web Services (AWS) Contact Center Intelligence (CCI), introducing Clarabridge into the AWS Partner Network (APN). AWS CCI solutions combined with Clarabridge’s omnichannel analytics enables organizations to easily add machine learning (ML)-driven speech and text analytics to existing contact center technologies driving measurable improvement to customer service quality, comprehensive risk/compliance management, and cost reduction in the contact center.
"India has close economic ties with both the United States and members of the EU, the primary regulatory authority there lies with the Telecom Regulatory Authority of India (TRAI), which develops best practices and standards for not only telecommunications but also telemarketing and net neutrality. Many English-speaking customers prefer non-regional speech, an issue that has moved some outsourcing away from Indian contact centers. Data privacy and security laws are changing too, causing businesses to keep a more watchful eye on third-party providers. Heightened concern about customer satisfaction ratings and the decreasing cost of cloud-based services also contribute to businesses bringing contact center operations back to the United States."
Market Trend
- Growing demand for speech and text analytics
Market Drivers
- Increase in the adoption of virtualized & cloud-based contact centers, remote access
- Demand for better customer experience management solutions
Opportunities
- Increasing contact centers across various industries
- Faster implementation of business value & flexibility, and simplified maintenance process
Restraints
- Rise in data security and privacy concerns
Challenges
- Lack of a clear and holistic approach in contact centers
Key Target Audience
Venture Capitalists and Private Equity Firms, New Entrants/Investors, Analysts and Strategic Business Planners, Contact Centres, Government Regulatory and Research Organizations and End-Use Industries
Customization available in this Study:
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Data related to EXIM [Export- Import], production & consumption by country or regional level break-up can be provided based on client request**
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