NEW YORK, Aug. 26, 2015 /PRNewswire/ -- The North Americanspeechanalytics market is estimated to grow at a CAGR of 21.4% from 2014 to 2019. Although the U.S. holds the larger shares in the North Americanspeechanalytics market, Canada is expected to grow considerably. The growth of speech analytics market in this region is driven by high penetration rate in media and entertainment, healthcare, government, and defense and aerospace verticals. However, speech analytics is time consuming when it comes to search for a particular information specific to a particular call. Moreover, emerging economies such as the U.S. and Canada are creating growth opportunities for the North Americanspeechanalytics solutions in this region.
North Americanspeech analytics market is segmented and forecasted on the basis of application-wise submarkets such as business process management, agent performance management, market intelligence management, customer experience management, risk and compliance management, and others. The North Americanspeechanalytics market is also segmented on the basis of major countries in this region such as the U.S., Canada, and Mexico. Factors such as increase in the usage of applications supporting speech analytics software to analyze the consumer behavior by the organization to design the strategies accordingly and the rapid growth in the tech-savvy population are driving the growth ofthe speech analytics market in the SMBs vertical in this region.
Geographically, North America is estimated to command the share of 51.13% by 2014 of the global speech analytics market. The U.S. holds the share of 71.21% of the overall North Americanspeech analytics market, by 2014.TheNorth Americanspeechanalytics market is primarily driven by the technological advancement and extensive use of call centers in this region.
As of 2014, the North Americanspeechanalytics market is estimated to be dominated by NICE Systems (Israel), Verint Systems (U.S.),and Nexidia, Inc. (U.S). New product launches, partnerships, acquisitions, and collaborations are the major strategies adopted by most of the players to achieve growth in the North Americanspeechanalytics market.
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From an insight perspective, this research report has focused on various levels of analysis—industry analysis (industry trends, and PEST analysis), market share analysis of top players, supply chain analysis, and company profiles, which together comprise and discuss the basic views on the competitive landscape, emerging- and high-growth segments of the North Americanspeechanalytics market, high-growth countries and their respective regulatory policies, government initiatives, drivers, restraints, and opportunities.
The report will enrich both established firms as well as new entrants/smaller firms to gauge the pulse of the market, which in turn will help the firms in garnering a greater market, share. Firms purchasing the report could use any one or combination of the below-mentioned five strategies (market penetration, product development/innovation, market development, market diversification, and competitive assessment) for strengthening their market share.
The report provides insights on the following pointers:
• Market Penetration: Comprehensive information on North Americanspeechanalytics solutions offered by the top fiveplayers in the North Americanspeechanalytics market
• Product Development/Innovation: Detailed insights on upcoming technologies, research and development activities, and new product launches in the North Americanspeechanalytics market.
• Market Development: Comprehensive information about lucrative emerging markets. The report analyzes the markets for various North Americanspeechanalytics solutionsacross geographies.
• Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the North Americanspeechanalytics solutions.
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