Key Players in the Latin American Speech Analytics Market are NICE, Verint, HP Autonomy, CallMiner, and Nexidia
(PRWEB) November 10, 2014
The Latin American Speech Analytics Market report defines and segments the speech analytics market in Latin America with analysis and forecast of revenue. This market is estimated to grow from $9.4 million in 2013 to $29.5 million by 2018, at a CAGR of 25.7% from 2013 to 2018.
Browse through the TOC of the Latin American Speech Analytics Market report to get an idea of the in-depth analysis provided. It also provides a glimpse of the segmentation in the market, and is supported by various tables and figures.
Speech analytics, also known as audio mining, is used to spot and analyze spoken words to bring structure to interactions. With the help of speech analytics, organizations reveal valuable information buried in the interaction between customers and organization contact centers. The adoption of speech analytics has enabled the optimization of workforce performance and enhancement of customer experience. Moreover, while mining and analyzing vast recording databases, speech analytics also takes care of privacy, accuracy, and compliance policies. With such enormous benefits and the ability to track customer taste and preferences, the speech analytics market is flourishing at a high rate.
In Latin America, the number of call centers is rising because of the cost-effectiveness of the outsourcing industry in this region. The speech analytics market has maximum application in call centers as it involves interaction with customers. In Latin America, customer interaction occurs through multiple channels such as emails, chats, surveys, and others. However, these traditional methods are slowly being replaced by speech analytics, which is used to design more reliable Voice User Interaction (VUI) on these channels. VUI is helping the organization to retrieve only vital information from the customer, to prioritize issues that need to be resolved, and to reduce the query response time. Together, IT and outsourcing industries are contributing 19% to the overall market share of speech analytics in Latin America, which shows the huge potential of this market in the region.
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The Latin American speech analytics market has been segmented and forecast on the basis of applications such as business process management, agent performance management, customer experience management, market intelligence management, and risk and compliance management. The market has further been segmented based on services such as professional services and support and maintenance. Brazil is one of the major countries covered in this region, among others.
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The report on the Latin American speech analytics market also includes market shares and value chain analyses, and market metrics such as drivers and restraints. In addition, it presents a competitive landscape and company profiles of the key players in this market.
Related Reports :
Europe Speech Analytics Market
Speech analytics, also known as audio mining is used to spot and analyze spoken words which brings structure to interactions and reveals the hidden information buried in the interaction between customer contact center and organizations. Speech analytics adoption optimizes workforce performance and enhances customer experience.
The Europe Speech Analytics market is expected to grow from $120.6 million in 2014 to $347.2 million in 2019 at an estimated of CAGR of 23.5%, for the given period. The drivers of Europe Speech Analytics market include raising demand for market intelligence and utility of speech analytics solutions in various industry verticals.
The increasing need of market intelligence to address the cut-throat competition is one of the major drivers of speech analytics market in European region. Most of the organizations are implementing speech analytics to gain business intelligence through latest promotional strategies. The call analysis helps enterprises to listen to the customer voices and monitor trends, which in turn helps them to support their marketing strategies.
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