US Speech Analytics Market

According to a research report "US Speech Analytics Market by Offering (Software by Functionality, Deployment Mode and Services), Business Function (Sales & Marketing, HR), Channel (VOIP & Messaging Platforms, Webinars & Virtual Meetings), Vertical and Region – Global Forecast to 2029" published by MarketsandMarkets, the US Speech Analmarket is expected to reach USD 7.3 billion in 2029 from USD 3.3 billion in 2024, at a CAGR of 17.5% during the forecast period.

The US speech analytics market is being driven by several key factors, including the growing need for seamless omnichannel integration, a stronger focus on tracking and optimizing agent performance, and the rising reliance on data analytics to boost customer retention and satisfaction. However, the high costs associated with extracting meaningful insights from transcribed voice data could limit market expansion.

Emotion detection software functionality segment to register largest market size during the forecast period.

The U.S. holds the largest market share for emotion detection software in speech analytics, driven by several key factors. The country is at the forefront of technological progress, with strong advancements in artificial intelligence and machine learning that improve the accuracy of emotion recognition. A thriving ecosystem of established tech firms and innovative startups fuels ongoing improvements in this field. Significant funding and partnerships between academia and industry also contribute to refining these tools. Businesses in the U.S. place a high priority on enhancing customer satisfaction and loyalty, using emotion detection to assess sentiments in conversations and adjust their services for better engagement. Supportive regulations for data-driven technologies further encourage adoption across sectors like healthcare, automotive, and entertainment. These elements solidify the U.S. as a major force in the worldwide expansion of emotion detection software.

Services segment to witness higher CAGR during forecast period.

The service segment of speech analytics is growing at the fastest rate in the U.S., fueled by rising demand for end-to-end support and implementation solutions. Businesses are realizing that successfully adopting speech analytics isn’t just about the technology itself it also hinges on customized consulting, employee training, and continuous system maintenance. Industries like healthcare and financial services are leading this trend, investing heavily in these services to refine customer engagement and streamline operations. Leading providers, including Verint Systems and NICE Systems, are scaling up their service portfolios to keep pace with market needs. By doing so, organizations maximize the value of speech analytics from sharper data-driven insights to smoother compliance management while ensuring the technology integrates effortlessly with current infrastructure.

VOIP and messaging platforms to register for the highest market size during the forecast period.

The VoIP and messaging platform segment has the highest market size in the U.S., driven by a surge in demand for reliable communication solutions. The rapid adoption of cloud-based technologies and the shift towards remote work have significantly influenced this growth. Major companies like RingCentral and Zoom are leading the market by providing innovative VoIP services that enhance connectivity and collaboration. The integration of advanced features, such as AI-driven analytics and real-time transcription, has further improved user experiences. Additionally, the expansion of 5G networks is enhancing service quality, making VoIP solutions more attractive for businesses seeking cost-effective communication alternatives.

The increasing focus on enhancing customer experience with integration of AI and ML technologies has contributed to the growth of the US Speech Analytics market.

Key players in the US Speech Analytics market are NICE (US), Verint (US), Avaya (US), OpenText (Canada), Google (US), Vonage (US), Genesys (US), Calabrio (US), CallMiner (US), Almawave (Italy), Five9 (US), AWS (US), Qualtrics (US), Talkdesk (US), Alvaria (US), Castel Communications (US), VoiceBase (US), Intelligent Voice (UK), CallTrackingMetrics (US), 3CLogic (US), Sprinklr (US), Uniphore ( US), Enthu.ai (India), Deepgram (US), Gnani.ai (India), Observe.ai (US), Batvoice (France), Kwantics (India), Speech Village (UK), Salesken (US), Tethr (US), Gong (US), and Clari (US).

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