According to IMARC Group’s latest report entitled “Speech Analytics Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecasts 2022-2027‘, provides a comprehensive analysis of the industry that includes insights Size of the language analysis industry. The report also includes competitive and regional analysis along with current advances in the global market. The global speech analytics market size reached $1.8 billion in 2021. Looking ahead, IMARC Group expects the The market is projected to reach $5.9 billion by 2027, at a growth rate (CAGR) of 22% over 2022-2027.

Speech analysis or interaction analysis is a technology that uses artificial intelligence to understand, process and analyze human speech. It helps collect customer information to improve communication and future interaction. In contact centers, speech analytics can record customer interactions to uncover the information needed to build effective cost containment and customer service strategies. It can identify cost drivers, perform trend analysis, identify strengths and weaknesses in processes and raw materials, and helps to understand how the market perceives contributions.

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Market Trends:

The global market is mainly driven by the human inability to grasp and decipher many customer concerns. Accordingly, speech analysis tools help companies to automatically and intelligently evaluate unstructured data from customer interactions in order to improve the customer experience and positively influence market growth. Also speech…