Audio analytics Market Size 2021: Covid-19 Impact Analysis by Industry Share, Key Findings, Developing Technologies, Opportunities and Forecast by Regions till 2030

In a recent published report, Kenneth Research has updated the market report for Audio analytics Market for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.

U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4  billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Audio analytics Market products.

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Moreover, increase in ICT spending around the globe for hardware, software, services, new technologies and telecom among others is also anticipated to contribute to the growth of the market in the coming years. The spending on new technologies recorded around USD 0.6 million in 2018 and is further estimated to reach close to USD 1.3 million by 2023. The total ICT spending around the globe further recorded close to USD 5 million in 2019 and is further projected to touch USD 6 million by 2023.

Global Audio Analytics Market – Drivers, Restraints, Opportunities, Trends, and Forecast up to 2024
There are several industries where audio analytics can have a positive impact. Some of the major areas where audio analytics could be deployed are contact/support centres, BFSI, retail and eCommerce, telecom and IT, and healthcare. With its implementation, the industries can reduce the overall business process cost by leveraging technologies including artificial intelligence and machine learning. This will help the organizations in automation and improve business processes, thus resulting in enhanced customer’s experience.

Global audio analytics market is categorized based on the presence of diversified small and large vendors. Avaya, NICE, and Verint are some of the key vendors and are increasing their footprint, however small vendors are competing with them in the global market by maintaining competitive pricing and customized product offering. By entering into alliances and strategic partnerships with other players in the market, the global vendors are expected to grow further during the forecast period.

According to Infoholic Research, the global audio analytics market will grow at a CAGR of 18.2% during the forecast period 2018–2024. The aim of this report is to define, describe, and forecast the audio analytics market on the basis of segments, which includes type, component, end-user, and regions. In addition, it helps the venture capitalists in understanding the companies better and make well-informed decisions. It is primarily designed to provide the company’s executives with strategically substantial competitor information, data analysis, and insights about the market, development, and implementation for an effective marketing plan.

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The global audio analytics market is categorized based on four segments – type, component, end-user, and regions.
o By Type includes Speech, Voice, and Others
o By Component includes Search Engine, Indexing, Analysis and Query, Reporting and Visualization
o By End-User includes Contact/support centres, BFSI, Telecom & IT, Retail & eCommerce, Healthcare, and Others
o Regions include Americas, EMEA, and APAC (Americas include North America and Latin America; EMEA includes Europe, Middle East and Africa; APAC include East Asia, South Asia, South–East Asia, and Oceania)

• The report comprises an analysis of vendor profile, which includes financial status, business units, key business priorities, SWOT, business strategies, and views.
• The report covers the competitive landscape, which includes M&A, joint ventures & collaborations, and competitor comparison analysis.
• In the vendor profile section, for companies that are privately held, the financial information and revenue of segments will be limited.

The key players offering audio analytics solutions across the globe include:
• Avaya
• Genesys
• NICE
• SESTEK
• Verint

Some of the other prominent players in the audio analytics market include:
• CallMiner
• Sound Intelligence
• Yactraq Online

Table of Contents
1 Executive Summary 8
1.1 Audio Analytics Market Share by Type and by Component (2017 and 2024 ) 9
2 Industry Outlook 10
2.1 Industry Snapshot 10
2.1.1 Industry Overview 10
2.1.2 Industry Trends 11
3 Market Snapshot 12
3.1 Total Addressable Market 12
3.2 Segment Addressable Market 12
3.2.1 PEST Analysis 14
3.2.2 Porter’s Five Force Analysis 15
3.3 Related Markets 15
4 Market Characteristics 16
4.1 Market Evolution 16
4.2 Market Segmentation 17
4.3 Market Dynamics 17
4.3.1 Drivers 19
4.3.1.1 Increasing demand for conversational customer relationship management (CRM) services 19
4.3.1.2 Advancements in security systems 19
4.3.1.3 Proliferation of voice-enabled devices 19
4.3.2 Restraints 20
4.3.2.1 Demand for data scientist with adequate NLP skills 20
4.3.2.2 High initial setup cost 20
4.3.2.3 Integration of audio analytics technology with existing infrastructure 20
4.3.3 Opportunities 21
4.3.3.1 Growth of conversational platforms with AI across industries 21
4.3.3.2 Enhanced customer experience 21
4.3.3.3 Lower operational expenditure due to high levels of automation 21
4.3.4 DRO – Impact Analysis 22
5 Audio Analytics Market, By Type 23
5.1 Overview 23
5.2 Speech 24
5.3 Voice 25
5.4 Others 27
6 Audio Analytics Market, By Component 28
6.1 Overview 28
6.2 Speech Engine 29
6.3 Indexing, Analysis and Query 30
6.4 Reporting and Visualization 31
7 Audio Analytics Market, By End User 33
7.1 Overview 33
7.2 Contact / Support Centers 35
7.3 BFSI 36
7.4 Telecom & IT 37
7.5 Retail & eCommerce 38
7.6 Healthcare 39
7.7 Others 40
8 Audio Analytics Market, By Geography 41
8.1 Overview 41
8.2 Americas 42
8.3 EMEA 43
8.4 APAC 44
9 Competitive Landscape 45
9.1 Competitor Analysis 45
9.2 Product/Offerings Portfolio Analysis 45
9.3 Market Developments 46
9.3.1 Mergers & Acquisitions (M&A) 46
9.3.2 Product Launches & Exhibitions 46
10 Vendor Profiles 47
10.1 Avaya 47
10.1.1 Overview 47
10.1.2 Product Profile 48
10.1.3 Business Units 48
10.1.4 Geographic Revenue 49
10.1.5 Recent Developments 50
10.1.6 Business Focus 50
10.1.7 SWOT Analysis 51
10.2 Genesys 52
10.2.1 Overview 52
10.2.2 Product Profile 52
10.2.3 Recent Developments 53
10.2.4 Business Focus 53
10.2.5 SWOT Analysis 53
10.3 NICE 54
10.3.1 Overview 54
10.3.2 Product Profile 55
10.3.3 Business Units 55
10.3.4 Geographic Revenue 56
10.3.5 Recent Developments 56
10.3.6 Business Focus 56
10.3.7 SWOT Analysis 57
10.4 SESTEK 58
10.4.1 Overview 58
10.4.2 Product Profile 58
10.4.3 Business Focus 59
10.4.4 SWOT Analysis 59
10.5 Verint 60
10.5.1 Overview 60
10.5.2 Product Profile 61
10.5.3 Business Units 61
10.5.4 Geographic Revenue 62
10.5.5 Recent Developments 63
10.5.6 Business Focus 63
10.5.7 SWOT Analysis 63
11 Companies to Watch for 64
11.1 CallMiner 64
11.1.1 Overview 64
11.1.2 Product Profile 64
11.1.3 Analyst Opinion 64
11.2 Sound Intelligence 65
11.2.1 Overview 65
11.2.2 Product Profile 65
11.2.3 Analyst Opinion 65
11.3 Yactraq Online 66
11.3.1 Overview 66
11.3.2 Product Profile 66
11.3.3 Analyst Opinion 66
12 Annexure 67
12.1 Report Scope 67
12.2 Research Methodology 67
12.2.1 Data Collation & In-house Estimation 68
12.2.2 Market Triangulation 68
12.2.3 Forecasting 68
12.3 Study Declarations 69
12.4 Report Assumptions 69
12.5 Abbreviations 69

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