North America Accounted for A Market Share of 51.1% in the Global Speech Analytics Market

Date: 2015-08-12

The North American speech analytics market is estimated to witness a CAGR of 21.4% during the forecast period, 2014 to 2019. Even though the U.S. held the largest share in the North American speech analytics market in 2014, the speech analytics market in Canada is also expected to grow considerably during the forecast period. The growth of the North American speech analytics market is driven by high penetration rate of the speech analytics in media & entertainment, healthcare, government, defense, and aerospace verticals so as to get useful information from the raw data available in the customer call centers. However, the process of the speech analytics can be time consuming sometimes, when there is a need to search for some particular information specific to a particular call. The U.S. and Canada are creating growth opportunities for the speech analytics solutions in the North American region. 

The North American speech analytics market is segmented and forecast on the basis of application as business process management, agent performance management, market intelligence management, customer experience management, risk and compliance management, and others. On the basis of geography, the North American speech analytics market is segmented into the U.S., Canada, and Mexico. Factors such as, increased usage of the speech analytics software supporting applications by the organizations to analyze consumer behavior and then design strategies accordingly,  and the rapid growth in the tech savvy population are driving the growth of the North American speech analytics market.
 
In 2014, North America accounted for a market share of 51.1% in the global speech analytics market. The U.S dominated the North American speech analytics market in 2014 and accounted for a market share of 71.2%. Technological advancements along with increased number of the call centers are the factors contributing to the growth of the North American speech analytics market. 

As of 2014, the North American speech analytics market was dominated by NICE Systems (Israel), Verint Systems (U.S.), and Nexidia Inc. (U.S). New product launches, partnerships, acquisitions, and collaborations are the key strategies adopted by the leading market players to achieve growth in the North American speech analytics market.

Contact With Us
Join templatemonster at google+
Customized Research
Request Sample