MarketsandMarkets expects the global audio communication monitoring market size to grow from USD 1.8 billion in 2020 to USD 4.3 billion by 2025, at a Compound Annual Growth Rate (CAGR) of 19.1% during the forecast period. Audio communication monitoring, also known as audio mining and analysis, monitors telephonic, voice, and speech-related audio content. It is used to analyze audio communication, providing a robust structure to interactions and revealing the information provided by an agent to clients and customers or vice versa. This information provides insights related to customers' or clients' perceptions about the brand or company. The key feature of audio communication monitoring is the ability to adhere to risk and compliance management, thus offering stringent security measures and enhancing overall productivity.
Key and emerging market players include NICE (Germany), Cisco (US), IBM (US), Enghouse Interactive (US), Google (US), AudioCodes (Israel), Integrated Research (Australia), Martello Technologies (Canada), Nuance Communication (US), Avaya (US), Veritone (US), Relativity (US), PathSolutions (US), Empirix (US), Genesys (US), Nectar (US), Behavox (US), Vyopta (US), Intelligent Voice (UK), Ameyo (India), Elastix (Spain), Dashbase (US), Ribbon Communications (US), Deepgram (US), Haloocom (India), Toku (Singapore), Servetel (India), CloudTalk (India), Dialer360 (UK), and JustCall (UK).
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Cisco (US) caters to a broad customer base in the regions of the Americas, EMEA, and APAC. The company deals in IT-related software and hardware products, which cater to a wide range of verticals, such as energy, government, education, financial services, retail, sports and entertainment, manufacturing, healthcare, transportation, and hospitality. In the audio communication monitoring market, Cisco offers cognitive Contact Center and Unified Communications (UC) solutions that provide integration of tools, such as IP telephony for voice calling, web and video conferencing, and voice mail, with user experiences that help people work together more effectively.
Avaya (US) is one of the major players in the audio communication monitoring market. Headquartered in California, US, The company builds open, converged, and innovative solutions for simplifying communications and collaboration in the cloud, on-premises, and hybrid environment. It offers solutions to various verticals, including healthcare, hospitality, government, education, financial services, public safety, and sports and entertainment, catering to various business needs, such as customer experience, team collaboration, and digital transformation. The product portfolio of Avaya comprises cloud, unified communications, contact centers, and phones and devices. Avaya has its geographical presence in North America, Europe, APAC, MEA, and Latin America. The various solutions offered by Avaya in the audio communication monitoring market are UC, Contact Center, and Avaya OneCloud.
Audio Communication Monitoring Market by Component (Solutions and Services), Type (Wireless Communication and Wired Communication) , Application, Deployment Mode, Organization Size, Vertical, and Region - Global Forecast to 2025
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