Abstract: 2008 Speech Analytics Market Report

Speech Analytics is one of the fastest growing applications in the history of the contact center market

The 2008 Speech Analytics Market Report is the most comprehensive and definitive guide to this dynamic and fast-growing market.  This year’s Report, the third annual edition, features detailed information about the market, vendors, technology, products, capabilities, current and future uses, trends, competitive landscape, benefits and ROI, market share and pricing.  It also presents customer satisfaction scores and feedback about the vendors and their products, and provides implementation best practices to makes your project a success. This Report gives end users everything they need to understand this important technology segment so that they can select the right product and rapidly realize significant and quantifiable benefits.

Speech analytics is attracting a great deal of attention because of its proven ability to provide enterprises with insights into customer needs and wants. This is translating into significant productivity savings for contact centers and revenue opportunities for enterprises. Market momentum is strong and opportunities abound, driving innovation and new investments. This market is growing rapidly; there are now 22 competitors, and many new entrants are planning to introduce solutions within the next few months. This Report separates market hype from reality and provides the information enterprises need to make the right selection for their company.

The 2008 edition of the Report provides an in-depth analysis of all 8 primary speech analytics solution providers: Autonomy etalk, CallMiner, eLoyalty, Nexidia, NICE Systems, SER, UTOPY, and Verint Systems. Additionally, DMG has expanded its coverage to include 14 other vendors that either partner with the primary solution providers, offer an emotion detection application, use speech analytics for broader customer experience analysis, or are planning to release a solution in the next few months.  

Report Highlights

• The speech analytics market realized strong growth in 2007; the number of implementations increased by 106% to 1,242; the four-year compounded annual growth rate (CAGR) is 268%
• DMG forecasts continued market expansion at a rate of 70% in 2008 and 50% in 2009, despite challenging economic conditions
• The speech analytics market, while growing rapidly, is under-penetrated; only 2.6% of contact center seats worldwide currently use these applications
• Product innovation – real-time speech analytics, text analysis for email and chat, emotion detection, packaged applications and an emphasis on making the results more actionable – is increasing the benefits of these solutions
• The quantifiable benefits to enterprises, reflected in the rapid payback of 3-9 months, is driving the adoption of speech analytics
• The number of competitors has increased to 22, with more vendors planning to enter the market in the near future

Report Scope

• Overview of the importance and benefits of speech analytics for enterprises, including how this functionality fits into the broader set of interaction analytics solutions
• Explanation of how speech analytics works and the technology innovations that are enhancing its accuracy and business value
• Review of current and projected uses and applications of speech analytics for contact centers, sales, marketing, operations, fraud, collections and other operating groups in the enterprise
• Best practices for building an effective speech analytics business case, including benefits and ROI
• The importance of change management in applying speech analytics findings and the growing need for business/strategic consulting
• Review and assessment of emotion detection technology, the vendors, products, capabilities, uses, benefits and value
• Market share analysis, five-year projections and adoption rate
• Review of the competitive landscape, detailed company reports and comprehensive functional and technical comparisons of all leading contact center speech analytics solutions
• Vendor pricing for premise-based, hosted and managed care solutions
• Speech analytics vendor directory

Key Reasons to Buy this Report

• This Report is the most timely, in-depth and objective analysis of the rapidly expanding speech analytics market; it covers 22 vendors, including all generally available software-based products and the offerings that are planned for release in the next few months
• Understand how speech analytics works, how technological innovations are increasing its accuracy and business value, and the ways that enterprises are using the applications
• Learn how to build a business case for speech analytics, including the specific benefits delivered by each of the solutions
• Discover implementation best practices to insure a quicker, more successful deployment
• Compare vendors, product, pricing, and market data in order to make a more informed investment decision
• Find out which vendors receive the highest customer satisfaction ratings for products, implementation, service/maintenance, training, professional services and overall performance
• Save time and money during the selection process

Table of Contents

Sample Figure: Commercial Speech Analytics Implementations and Percent Growth, 2004 - 2007

Order Information
To order a copy of the 2008 Speech Analytics Market Report, contact Deborah Navarra at 516-628-1098 or deborah.navarra@dmgconsult.com. You may also purchase the Report online at www.dmgconsult.com.

Additional Formats for this Abstract
The Abstract is also available in PDF format.