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DMG Consulting Releases 2017 – 2018 Speech Analytics Product and Market Report

DMG Consulting Releases 2017 – 2018 Speech Analytics Product and Market Report

10/18/2017

Mature sector with substantial opportunity

Who:      DMG Consulting LLC, a leading provider of contact center, back-office and real-time analytics market research and consulting services

What:    Releases 12th annual Speech Analytics Product and Market Report

When:    Today, 18 October 2017

Where:   Available at the DMG Consulting online store

Background:

DMG Consulting LLC, a leading provider of contact center, back-office and real-time analytics market research and consulting services, today released its 2017 – 2018 Speech Analytics Product and Market Report. DMG’s 12th annual edition of this Report provides a comprehensive review and unparalleled analysis of the competitors, products, features, pricing, payback, and trends and challenges in this complex technology sector.

After 14 years in the commercial market, speech analytics has reached maturity, but the solutions have not become commoditized. Currently, there are two categories of speech analytics vendors in the market: a large group of competitors who sell basic applications that focus on identifying key words and phrases, and a smaller set of feature-rich solution providers who offer extensive  business intelligence platforms that provide enterprise-level data. These solutions are being used by contact centers to convert unstructured phone conversations into structured data that yields a wealth of information about customer needs and expectations. Speech analytics also uncovers enterprise-wide trends and challenges, providing tactical and strategic information that can be used to enhance all aspects of an organization, beyond the contact center.  

The next step for speech analytics is to enter the world of data science. DMG expects leading vendors to design new algorithms targeted at a variety of enterprise opportunities. In the future, artificial intelligence (AI) will be used to enhance the ability of speech analytics to identify issues and recommend ways to address them. Machine learning is starting to be used to enable these solutions to quantify the impact of new trends and issues with minimal human intervention. “The opportunities and benefits are substantial for speech analytics vendors and the companies that use these solutions,” said Donna Fluss, President of DMG Consulting LLC. “Companies that take speech analytics seriously, and invest in the resources and best practices to build an effective program, are realizing quantifiable benefits that enhance the customer journey and improve the bottom line.”

The future of speech analytics is positive. Adoption remains strong, and there is still a significant unpenetrated market for the stand-alone solutions. An even greater opportunity exists for vendors to deliver solutions that are cloud-based and address both speech and text interactions. DMG predicts that the contact center speech analytics market will grow by 12% in 2017, 11% in 2018, 10% in 2019, 10% in 2020, and 10% in 2021.

The 2017 – 2018 edition covers 5 leading and contending vendors in-depth: Calabrio, CallMiner, NICE, SESTEK, and Verint; ZOOM International is also covered at a higher level. To learn more about the 2017-2018 Speech and Text Analytics Product and Market Report, read the abstract and the table of contents, or contact Deborah Navarra at deborah.navarra@dmgconsult.com or 516-628-1098. To order your copy of the Report, visit www.dmgconsult.com.

About DMG Consulting LLC

DMG Consulting LLC is a vendor-independent advisory and consulting firm specializing in contact centers, back-office and real-time analytics. We are a strategic advisor to end users and vendors, large and small, and the financial community. Our mission is to help our clients build world-class contact center and back-office environments by leveraging technology, process and people. We assist management in optimizing the performance of their contact centers by increasing operational efficiency, providing an outstanding customer experience, enhancing loyalty and increasing sales and profits. We also help vendors develop products and services that deliver differentiated innovation and benefits that meet end users’ current and future needs.


DMG Consulting is the leading provider of industry research for many contact center, back-office and analytics IT markets, including: Workforce Optimization (WFO, Quality Management/Liability Recording), Workforce Management, Speech Analytics, Text Analytics, Desktop Analytics, Robotic Process Automation, Customer Journey Analytics, Contact Center Performance Management, Gamification, Enterprise Feedback Management/Surveying, Voice Biometrics, Cloud-Based Contact Center Infrastructure, Outbound Solutions, Interactive Voice Response Systems, Virtual Intelligent Agents and Unified Communications. For more information, visit
www.dmgconsult.com.

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