The call center market is booming in Latin America. This is because of various reasons, of which the primary reason is that it is more cost effective than the US. In India, the companies are seeing wage inflation so they are moving to new locations such as Brazil, Mexico, Argentina and Columbia. The people in this region can also speak Spanish and Portuguese which gives them an added advantage. The time zone of this region is almost same as the USA which is one of the biggest markets. These factors favor the growth of call centers in Latin America. This will also help the speech analytics market in the region as it is used a lot in the call centers.
The different speech analytics approaches could include phonetic indexing, speech-to-text transcription, speaker separation, talk-over analytics, and emotion detection. The types of speech analytics solutions include speech engine, analysis and indexing, query engine, search engine, and dashboards and reports.
The accuracy of the search results from these approaches is what matters to the user in the end, when different speech systems are used for this purpose. Speech analytics provides advanced functionality that is of utmost important to most of the businesses across regions. The speech analytics systems are built keeping the business user in mind. The data obtained from this could be used to derive desirable trends to improve upon the existing customer services.
Customer satisfaction is the key for success of any enterprise. The focus is now on customer-centric strategies as customers are now more informed. Booming of call centers and more interaction with customers in the form of e-mails, newsletters are a part of this strategy.
Interaction with customers is an essential part of an organization. Speech analytics helps in analyzing these interactions happening over calls and bringing out useful information to identify and prioritize the issues that have to be resolved. These solutions are being deployed across diverse industry verticals with enterprises realizing the benefits of the same.
Vendors too are adding different features to meet the requirements of enterprises. Speech analytics technology consists of speech engine, analysis and indexing, query engine, search engine, dashboards and reports which provide real-time analytics to clients for efficient and quick decision-making.
Some of the major vendors mentioned in the report are Verint, Nice, Nexidia, Avaya, HP Autonomy and Callminer.
The factors driving the demand growth of the speech analytics market are the growing focus on customer satisfaction, increasing adoption of analytical solutions by the agencies and corporates, and finally, the increase in the number of call centers set up in most of the emerging nations.
Some of the factors that could possibly hinder the growth of this market could be the error-prone nature of the systems and the lack of awareness of the various solutions that the speech analytics tools could provide.
WHAT THE REPORT OFFERS
- Latin America speech analytics market overview and in-depth market analysis with its applications in the industry and information on drivers and restraints.
- Identification of factors responsible for changing the market scenario, rising prospective opportunities and identification of key companies that can influence the market on a global and regional scale.
- Extensively researched competitive landscape with profiles of major companies along with their market share.
- A comprehensive list of key market players along with the analysis of their current strategic interests and key financial information.
1.1 Key Deliverables of the Study
1.2 Study Assumptions
1.3 Research Methodology
1.4 Key Findings of the Study
2. Executive Summary
3. Market Dynamics
3.1 Market Overview
3.2 Factors Driving the Market
3.2.1 Growing Focus on Customer Satisfaction
3.2.2 Increasing Adoption of Analytical Solutions
3.2.3 Growing Number of Call Centers in Emerging Economies
3.3 Factors Restraining the Market
3.3.1 Error-Prone Systems
3.3.2 Lack of Awareness of These Solutions
3.4 Industry Value Chain Analysis
3.5 Industry Attractiveness – Porter’s Five Forces
3.5.1 Bargaining Power of Suppliers
3.5.2 Bargaining Power of Consumers
3.5.3 Threat of New Entrants
3.5.4 Threat of Substitute Products or Services
3.5.5 Competitive Rivalry among Existing Competitors
4. Technology Overview
4.1 Technology Snapshot
4.2 Features Present in Speech Analytics Solutions
4.2.1 Phonetic Indexing
4.2.2 Speech-To-Text Transcription
4.2.3 Speaker Separation
4.2.4 Talk-over Analytics
4.2.5 Emotion Detection
4.3 Types of Speech Analytics Solutions
4.3.1 Speech Engine
4.3.2 Analysis and Indexing
4.3.3 Query Engine
4.3.4 Search Engine
4.3.5 Dashboards and Reports
4.4 New Developments in Speech Analytics
5. Speech Analytics Market Segmented by Type of Deployment
6. Speech Analytics Market Segmented By Type of Solution
6.1 Speech Engine
6.2 Analysis and Indexing
6.3 Query Engine
6.4 Search Engine
6.5 Dashboards and Reports
7. Speech Analytics Market Segmented by End-user Industry
7.5 Travel and Transport
7.6 Professional Services
7.10 Entertainment and Media
8. Speech Analytics Market Segmented by Country
9. Speech Analytics Market by Size of Organization
10. Vendor Market Share Analysis
11. Competitive Intelligence and Profiles of Speech Analytics Vendors
11.1.2 Major Products and Services
11.1.4 Recent Developments
11.2.2 Major Products and Services
11.2.4 Recent Developments
11.3 Nexidia Inc.
11.3.2 Major Products and Services
11.3.4 Recent Developments
11.4 Avaya Inc.
11.4.2 Major Products and Services
11.4.4 Recent Developments
11.5 HP Autonomy
11.5.2 Major Products and Services
11.5.4 Recent Developments
11.6.2 Major Products and Services
11.6.4 Recent Developments
11.7.2 Major Products and Services
11.7.4 Recent Developments
11.8 Interactive Intelligence Inc.
11.8.2 Major Products and Services
11.8.4 Recent Developments
11.9 Mattersight Corporation
11.9.2 Major Products and Services
11.9.4 Recent Developments
11.10 AVOKE Analytics
11.10.2 Major Products and Services
11.10.4 Recent Developments
11.11.2 Major Products and Services
11.11.4 Recent Developments
12. Investment Analysis
12.1 Recent Mergers & Acquisitions
12.2 Investor Outlook
13. Future of Latin America Speech Analytics Market