Voice Analytics Market Set to Witness Unprecedented Growth of USD 3,224.11 Million by 2028
Data Bridge Market Research analyses that the voice analytics market will exhibit a CAGR of 19.20% for the forecast period of 2021-2028 and is expected to reach the market value of USD 3,224.11 million by 2028.
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The quantification for speech and voice for gaining into the operations and performance of personnel in an organization while dealing with the customers is known as voice analytics. These analytics are widely used in a variety of call centers/customer contact centers where there is a requirement to analyze and improve the initial point of interaction between business and their customers.
Growing demands of organizations for the collection of information and insights from the interactions with the customers is the driving factor that will influence the market growth rate. Also, upsurge demand for better fraud as well as risk detection services will accelerate the market growth. Furthermore, growth of focus of different organizations for the improvement of their agent’s performance by consistent monitoring and collecting valuable insights, rise in the demands for this technology due to surge in the number of call centers globally are the major factors enhancing growth of the voice analytics market.
Moreover, artificial intelligence's impact on improving individualized experience will boost the beneficial opportunities for the voice analytics market growth.
However, rise in the concern about the analytics services' inaccurate nature for user authentication coupled with data privacy threats will hamper the voice analytics market growth. Also, high financial cost associated with the technology resulting in complications for attaining return on investments will obstruct the growth of market. Less awareness amongst the end-users about the availability of this technology will challenge the growth of the voice analytics market.
This voice analytics market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographical expansions, technological innovations in the market. To gain more info on voice analytics market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
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