Industry Background:
Conversation intelligence Platform record, transcribe and analyze sales calls. Conversation intelligence Platform can detect keywords and subjects of conversation by monitoring sales conversations, allowing users to rapidly navigate to particular places in the recordings and further analyze important information. Businesses can use the Conversation Intelligence Platform to take notes on key conversations with potential buyers, identify risky or non-compliant conversation topics, coach new sales reps on best practices, and any other use cases that can be derived from the analysis and transcription of sales calls.This growth is primarily driven by Demand for Statics of a Conversation Including Talk Ratios, Customer Interactivity, and Total Call Duration
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Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Forecast Period | 2023-2028 |
Volume Unit | K Units |
Value Unit | USD (Million) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
The Application Software sector in the
region has been increasing at a sustainable rate and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region. Major Players, such as Chorus.ai (AffectLayer) (United States), VoiceOps (United States), CallRail (United States), Gong.io (United States), Jiminny (United Kingdom), Balto (United States), SalesLoft (United States), Convin (India), RingDNA (United States), ExecVision (United States), DialogTech (United States) and Dialpad (United States), etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Key Developments in the Market:
On 24 May 2021, Incova announces the acquisition of DialogTech. With the acquisition of DialogTech, Invoca will be able to spend more actively in product innovation, have a greater understanding of important sectors, and have access to a larger ecosystem of technology partners, agencies, and digital consulting companies. Invoca helps revenue teams create better buying experiences, generate more leads, and boost revenue across the board, from marketing and sales to eCommerce and customer experience.
On 21 July 2021, Chorus.ai announced the availability of the Chorus app for Zoom Video Communications, Inc. Chorus' Conversation Intelligence capabilities are now integrated directly into the Zoom Meeting experience with the new app. With the Chorus app for Zoom, it can effortlessly integrate the power of Conversation Intelligence into every conference. This Chorus extension allows merchants to have better, more meaningful real-time conversations. The Chorus app for Zoom, which is available as an integrated experience within Zoom Meetings, allows revenue teams to be more engaged in conversations, resulting in deeper connections and, as a result, greater conversion rates.Top companies are focusing on organic growth strategies such as product launches, product approvals, and other growth initiatives such as patents and events. Acquisitions, as well as partnerships and collaborations, were seen as inorganic growth methods in the market. These actions have opened the path for market participants to expand their business and consumer base. With the growing demand in the worldwide industry, market players in the Conversation Intelligence Platform market are expected to benefit from attractive growth possibilities in the future.
Influencing Trend:
Digitalization of AI and Machine-Learning Algorithms that Rapidly Analyse the Full Context, Experience, and Outcome of Every Call
Market Growth Drivers:
Demand for Statics of a Conversation Including Talk Ratios, Customer Interactivity, and Total Call Duration and Need to Understand and Predict Consumer Behaviour and Optimize Marketing Performance
Challenges:
Facing Problem in Chatbots and Virtual Assistants as they are Programmed with Certain Set of Instructions and can Only Respond to Questions that are Recorded in a Database
Restraints:
Limited Knowledge about Chatbots and their Benefits
Opportunities:
Benefits of High Standard Accuracy to Detect and Correct Call Handling Issues and Adoption of Conversation Intelligence Platform by Social Media Platform
AMA Research follows a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mainly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcases the spontaneously changing Players landscape impacting the market's growth. Furthermore, our market researchers extensively analyze the products and services offered by multiple players competing to increase their market share and presence.
Data Sources of Conversation Intelligence Platform- Market Study
Primary Collection: InMail, LinkedIn Groups, Survey Monkey, Google, and Other professional Forums are some of the mediums utilized to gather primary data through key industry participants and appointees, subject-matter experts, C-level executives of Conversation Intelligence Platform- Industry, among others including independent industry consultants, experts, to obtain and verify critical qualitative commentary and opinion and quantitative statistics, to assess future market prospects.
The primary interviews and data collected as per the below protocols: By Designation: C-Level, D-Level, Others
By Company Type: Tier 1, Tier 2, Tier 3
Secondary Data Sources such as Annual reports, Press releases, Analyst meetings, Conference calls, Investor presentations, Management statements, and SEC filings of Conversation Intelligence Platform- players along with Regulatory Sites, Association, World bank, etc were used as sources secondary set of data.
Customization in the Report
AMA Research features not only specific market forecasts but also includes significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints
- New Entrants into the Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
Against this Challenging Backdrop, Conversation Intelligence Platform- Study Sheds Light on
The Conversation Intelligence Platform- Market status quo and key characteristics. To end this, Analysts at AMA organize and took surveys of the Conversation Intelligence Platform- industry Players. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Conversation Intelligence Platform- industry is heading and what are the top priorities. Insights are drawn from financial analysis, surveys, and interviews with key executives and industry experts.
How every company in this diverse set of Players can best navigate the emerging competition landscape and follow a strategy that helps them position to hold the value they currently claim or capture the new addressable opportunity.