Speech Analytics Market Estimate and Forecast Till 2020: Grand View Research, Inc

SAN FRANCISCO - April 3, 2015 - PRLog -- The speech analytics market is witnessing a significant growth due to rising adoption of the speech analytics tools across the Business Process Industry (BPO) industry. Introduction of advanced technological tools enables organizations to take action on unstructured data acquired from customer interactions, thereby enhancing  customer experiences, and gaining a competitive advantage. The technology works on three approaches,  direct phase recognition, phonetic recognition and Large Vocabulary Continuous Speech Recognition (LVCSR). The technology is used across several sectors, including healthcare, retail, IT & Telecom, and Banking and Financial Services (BFSI), which is expected to drive market demand over the forecast period. Speech analytics enables businesses to identify market trends and issues, thereby helping companies improve their product, service or quality issues, identify high-value customers, and comprehend the performance of their marketing campaigns. In addition, the technology helps organizations analyze market trends & opportunities, unproductive call volumes, and factors driving high costs. Speech analytics plays a key role in assessing the drivers of customer loyalty across the enterprise.

Browse the Full Global Speech Analytics Market - Global Scenario, Industry Outlook, Share, Industry analysis, Size, Trends and Forecast, 2014 To 2020 Report at - http://www.grandviewresearch.com/industry-analysis/speech-analytics-market

Speech analytics solution providers focus on developing a system that enables summarizing and consolidation of high data volume efficiently. Developing solutions that are scalable to the end-user requirements and presenting data in a visually intuitive format form a critical element of a company’s core business strategy. The key players in the speech analytics market are Interactive Intelligence, Avaya Aurix, NICE Systems, Calabrio, Genesys, Uptivity, Castel, Nexidia, VPI, and Verint Systems.

About Grand View Research

Grand View Research, Inc. is a United State of America based market research and consulting company that provides off-the-shelf, customized research reports and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and energy. With a deep-seated understanding of varied business environments, Grand View Research provides strategic objective insights. For more information, visit http://www.grandviewresearch.com/