CIS Countries Speech Analytics Market Analysis, Size, and Share by 2027

The CIS Countries Speech analytics market accounted at US$ 19.7 Mn in 2018 and is expected to grow at a CAGR of 3.4% during the forecast period 2019 – 2027, to account to US$ 26.5 Mn by 2027.

Russia with leading market presence in numerous defense and industrial technologies along with strong presence in international market has boosted its capabilities in AI and NLP technologies. Subsequently, the country currently has selected number of speech analytics market players with strong market related offerings. Moreover, the notable presence of globally and European presence companies also has facilitated the penetration of speech analytics solution in the country over the past few years.

CIS Countries Speech Analytics Market, by Revenue, 2018 & 2027

Market Insights

Analytics driven call quality monitoring and associated versatile benefits is driving the demand for speech analytics market

The past few years has attracted a substantial investment towards the development of superior AI technologies having a broad scope of application. Subsequently, the number of AI-driven analytics solution witnessed an unprecedented adoption across different industry verticals and continue to gain popularity among small and medium enterprise owners as well. Similarly, the speech analytics, along with voice analytics-based solution, are extensively used by numerous market players among different end-user industries for improving the consumer experience. Thereby, propelling the growth of CIS Countries Speech analytics market.

Offering accuracy driven platforms and focusing on culturally diverse demographic market offer prosperous opportunity to the speech analytics market

Owing to a notable number of players operating in the speech analytics market along with strong customer base has attributed in intense market competition, especially across developed economies. Additionally, the increase in investment towards research and development has facilitated in consistently boosted the company’s market offering competencies. As a result, the companies are increasingly focusing on market differentiating factors to further gain a sustainable advantage compared to their competitors. Moreover, emphasis towards offering niche business requirement and focusing on a culturally diverse region with multiple languages could also provide lucrative opportunities to the CIS Countries Speech analytics during the coming years.

Type Insights

The CIS Countries Speech analytics market by type was led by solutions segment. The increasing investment by market players for the adoption of AI and Machine Learning capabilities to add new features to their solutions and further expand the number of use cases. The integration of advanced technologies permits the users to extract more accurate insights and drive instant action in real time.

Deployment Type Insights

The CIS Countries Speech analytics market by deployment was led by cloud-based segment in 2018. Also, the segment is expected to hold the largest CIS Countries Speech analytics market share by 2027. The cloud deployment model is ideal for organizations keen to implement analytics solutions with low investment. It primarily allows the companies to obtain the data with the help of analytical solutions and services in an economical expense.

End user Industry Insights

The CIS Countries Speech analytics market is segmented based on end-user industries such as BFSI, Media & Entertainment, IT & Telecom, Healthcare & Life Science, Consumer Goods & Retail, and others. BFSI segment is expected to continue its dominance in the CIS Countries Speech analytics market throughout the forecast period. However, consumer goods & retail and IT & telecom are anticipated to exhibit high CAGR in the CIS Countries Speech analytics market.

Rest of CIS Countries Speech Analytics Market by End-User Industry

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CIS Countries Speech Analytics Market: Strategic Insights

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Presently, a significantly large number of companies operate in the speech analytics market, offering a broad range of software and platform solutions with diverse business offerings as well as competencies. Few of the recent developments are listed below:

2019:

CallMiner announced the latest addition to its customer engagement analytics platform—Eureka Capture—which captures high-fidelity audio in real time by delivering secure, faster, and more accurate insights as well as intelligence from contact center interactions.

2018:

Avaya announced the up gradation of workforce optimization suite by adding real-time speech analytics, as well as the ability to monitor calls in real-time for better detection of words and phrases of the interaction.

2017:

Clarabridge announced the CX Contact Center, a full-service solution used for evaluating Voice of the Customer data in contact centers. This solution features superior voice-to-text transcription, industry-specific categorization and sentiment analysis, omnichannel listening capabilities, and interactive dashboards for cx teams and contact center leaders.

CIS COUNTRIES SPEECH ANALYTICS MARKET SEGMENTATION

CIS Countries Speech Analytics Market - By Type

• Solution
• Services

CIS Countries Speech Analytics Market - By Deployment Type

• Cloud
• On-Premise

CIS Countries Speech Analytics Market - By End-user

• BFSI
• Media & Entertainment
• IT & Telecom
• Healthcare & Life Science
• Consumer Goods & Retail
• Others

CIS Countries Speech Analytics Market - By Geography

• CIS Countries

  • Russia
  • Rest of CIS Countries

CIS Countries Speech Analytics Market Companies

• Avaya INC.
• Clarabridge
• Calabrio, Inc.
• CallMiner
• Genesys
• IBM Corporation
• NICE Systems Ltd
• Speech Technology Center Limited (STC)
• Verint Systems Inc
• ZOOM International

Other Market Players from Value Chain:

Vocitech, Tethr, Invoca, Cogito, VoiceBase, Gridspace, Nuance, Talkdesk, CallTrackingMetrics, CloudTalk, and few other market players from value chain which are not profiled in the report but the can be included based on request.

Report Scope

CIS Countries Speech Analytics Market Regional Insights

The regional trends and factors influencing the CIS Countries Speech Analytics Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses CIS Countries Speech Analytics Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.

CIS Countries Speech Analytics Market Report Scope

CIS Countries Speech Analytics Market Players Density: Understanding Its Impact on Business Dynamics

The CIS Countries Speech Analytics Market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.

Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.

Major Companies operating in the CIS Countries Speech Analytics Market are:

1. Avaya INC.
2. Clarabridge
3. Calabrio, Inc.
4. CallMiner
5. Genesys

Disclaimer: The companies listed above are not ranked in any particular order.