HOME › Research Insight › Increasing Competition Among Companies for Better Product and Customer Services has Generated Rapid Requirement for Speech Analytics Solutions and Services
Increasing Competition Among Companies for Better Product and Customer Services has Generated Rapid Requirement for Speech Analytics Solutions and Services
Increasing competition among companies for better product and customer services has generated rapid requirement for speech analytics solutions and services. With advanced technological improvements in speech analytics, these solutions and services help organizations to handle their customers in a better way and at real time, along with lowering the cost associated with deployment, integration, and maintenance of these solutions. Speech analytics solutions provide speech engine, indexing, analysis, query tools, and dashboards and reporting tools. Companies such as Intelligence Interactive Group, Inc., NICE Systems, Ltd., Verint Systems, Avaya, Inc., and Genesys Telecommunication Laboratories, Inc. are the top key players in the speech analytics market. These key players are engaging in new product development and partnerships, as they help the companies to expand in new areas to increase their sales and product reach. Acquisition is another strategy adopted by the market players as it provides companies with greater capital and resources, which help them to invest more in research and development to innovate new products and gain traction in the speech analytics market.
Interactive Intelligence Group Inc., with great prominence in the contact center market space, is aspiring to become the top market provider of software and cloud services for customer engagement, communications, and collaboration. The solutions provided by Interactive Intelligence for customer relationship management for speech analytics are gaining high traction due to their better quality and upgraded technological benefits. In September 2015, Interactive Intelligence made its latest customer engagement cloud service, PureCloud Engage, available throughout Europe from the Amazon Web Services infrastructure region in Dublin, Ireland. In February 2015, Interactive Intelligence expanded its presence in Canada with the opening of an office in Toronto and a data center in Montreal. This move was driven by the increased demand trends for cloud, mobile, analytics, and social customer service technologies in Canada. In August 2014, Interactive Intelligence started offering the CallScripter’s application complementing its Customer Interaction Center and Interaction Dialer software to improve customer experience.
NICE Systems is another top company catering the speech analytics market and has been a prominent provider of comprehensive offerings of speech analytics and workforce optimization solutions. The company’s key strategic focus is on maintaining its position in the speech analytics market by offering extensive solution portfolio with the launch of various new solutions along with added language support and state-of-the-art feature enhancements. It has also been focusing on partnerships and collaborations with associated vendors in contact center infrastructure and solution market to provide comprehensive voice solutions with speech analytics capabilities. The company has recently announced that it has entered into agreement to acquire Nexidia. This acquisition will assist NICE Systems to further strengthen its position in the speech analytics market. NICE systems’ domain expertise, strong customer base, and focus on research and development make the company a prominent player in the speech analytics market.
Speech Analytics Market by Type (Solutions (Speech Engine, Indexing, Analysis and Query Tools, and Dash Boards and Reporting Tool) and Services), by Deployment Type (On- Remise, Cloud), by Organization Size, by Vertical, & by Region - Global Forecast to 2020
Markets and Markets
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