Global Speech Analytics Market to Reach $4.1 Billion by 2027

Global Industry Analysts estimated the global market for speech analytics at $1.3 billion in 2020 and expects it to reach $4.1 billion by 2027, at a compound annual growth rate (CAGR) of 17.9 percent.

Of that amount, the U.S. market was valued at $380.5 million in 2020. China, the world's second largest economy, is forecasted to reach a market size of $701.5 million by 2027, showing a CAGR of 17.2 percent. Japan and Canada are forecasted to grow at 16 percent and 15.4 percent respectively through 2027. Within Europe, Germany is forecasted to see a 13.1 percent CAGR.

Among the major players identified in the report are Almawave, Avaya, Calabrio, CallMiner, Clarabridge, Genesys, Hewlett Packard, NICE, Verint Systems, Voci Technologies, and ZOOM.