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Speech Analytics Market size worth $ 8.85 Billion, Globally, by 2030 at 25.5% CAGR: Verified Market Research®

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The “Global Speech Analytics Market Size By Component, By Application, By End User, By Geographic Scope And Forecast” report has been published by Verified Market Research®. The report provides an in-depth analysis of the global Speech Analytics Market, including its growth prospects, market trends, and market challenges.

JERSEY CITY, N.J., Aug. 1, 2023 /PRNewswire/ — The Global Speech Analytics Market is projected to grow at a CAGR of 25.5% from 2023 to 2030, according to a new report published by Verified Market Research®. The report reveals that the market was valued at USD 1.8 Billion in 2022 and is expected to reach USD 8.85 Billion by the end of the forecast period.

Download PDF Brochure: https://www.verifiedmarketresearch.com/download-sample?rid=1752

Browse in-depth TOC onSpeech Analytics Market
202 – Pages
126 – Tables
37 – Figures

Speech Analytics Market: Unlocking Customer Insights and Transforming Business Performance

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Speech analytics, a useful technique for obtaining information from customer call recordings, is revolutionising how companies interact with and communicate with their customers. The advantages and capabilities of speech analysis are explored by this state-of-the-art technology, including its ability to improve agent performance, gather competitive intelligence, and maximise campaign effectiveness. The Speech Analytics Market is expanding due to various speech analytic products like speech engines, indexing, evaluation tools, dashboards, and reporting tools.

Driving Forces Behind Growth: A number of important factors are causing the Speech Analytics Market to grow rapidly. CRM initiatives are being strengthened by the growing use of voice analytics technologies by call centres and corporations. Furthermore, the availability of cloud-based real-time speech analytics solutions has created a plethora of chances for businesses to effectively make data-driven decisions. Speech analytics are now valued by businesses for risk management, regulatory compliance, and improving operational effectiveness, which is fueling industry expansion.

Opportunities for Businesses: Speech analytics enables companies to improve customer experiences by gaining valuable insights from customer interactions. Real-time analysis made possible by the technology makes it easier to monitor and enhance agent performance. Businesses across a variety of industries can improve their operations and customer engagement strategies by utilising speech analytics, opening the path for improved business success.

Addressing Challenges and Limitations: Despite the enormous potential of the speech analytics market, there are still challenges to be overcome. Strong data protection measures are required due to the complex information ecosystem’s worries over security and data breach issues. The seamless integration of voice analytics with current analytical systems may also be hampered by the dearth of experienced individuals who are adept at communicating investment prospects. Due to the potential impact on market growth, businesses must also take into account the costs related to integrating predictive analytics into speech analytics solutions.

Competitive Environment and Key Players: In this fast-moving market, a number of notable players have established themselves as leaders. CallMiner, NICE Systems, Verint Systems, Avaya, Inc., Genesys, Clarabridge, Voci Technologies, Zoom International, HPE, and Calabrio are some of the major companies reshaping the speech analytics market. These sector leaders consistently work to invent and provide cutting-edge speech analytic solutions that satisfy the changing requirements of businesses all around the world.

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Market Ranking Analysis and Market Share: As the Speech Analytics Market grows, market ranking analysis and market share are essential measures of achievement and impact. As the major firms fight for a bigger piece of the market, their rivalry grows. By identifying the advantages and disadvantages of their rivals, firms can stay ahead of the competition by using in-depth market ranking analysis.

Market Outlook: The Speech Analytics Market has a bright future, with the technology becoming more and more crucial to companies’ success. The market is anticipated to experience steady expansion as call centres and businesses realise the significance of voice analytics in acquiring a competitive edge. The development of speech analytic solutions will be fueled by ongoing research and innovation, opening up new opportunities for companies in a variety of industries.

In conclusion, speech analytics provides organisations with an unrivalled opportunity to gain insightful knowledge from consumer interactions and improve performance. Enterprises can unlock the full potential of speech analytics and influence the direction of consumer engagement with the help of the appropriate strategies and advanced speech analytic solutions.

To get market data, market insights, financial statements and a comprehensive analysis of the Global Speech Analytics Market, please Contact Verified Market Research®.

Based on the research, Verified Market Research® has segmented the global Speech Analytics Market into Component, Application, End User, And Geography.

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  • Speech Analytics Market, by Component
    • Solution
    • Services
  • Speech Analytics Market, by Application
    • Customer experience management
    • Call monitoring
    • Agent performance monitoring
    • Sales performance management
    • Competitive intelligence
    • Risk and compliance management
  • Speech Analytics Market, by End User
    • BFSI
    • Retail and eCommerce
    • Travel and Hospitality
    • Government and Defense
    • Healthcare and Life Sciences
  • Speech Analytics Market, by Geography
    • North America
      • U.S
      • Canada
      • Mexico
    • Europe
      • Germany
      • France
      • U.K
      • Rest of Europe
    • Asia Pacific
      • China
      • Japan
      • India
      • Rest of Asia Pacific
    • ROW
      • Middle East & Africa
      • Latin America

Browse Related Reports:

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Customer Experience Management Market By Analytical Tools (Speech Analytics, Text Analytics, Web Analytics & Content Management), By TouchPoint (Stores/ Branches, Web Services, Call Centers), By End-User (Retail, BFSI, Healthcare), By Geography, And Forecast

Voice Recognition System Market By Technology (Embedded, Hybrid), By Application (Artificial Intelligence, Non-Artificial Intelligence), By End-User (Economy Vehicles, Mid-Price Vehicles, Luxury Vehicles), By Vehicle Type (Battery Electric Vehicle, Internal Combustion Engine, Hybrid Vehicles), By Geography, And Forecast

Speech Synthesis Software Market By Product (Concatenation Synthesis, Formant Synthesis), By Application (Visually Impaired, Dysreaders, Student, Other), By Geography, And Forecast

5 Best Speech And Voice Recognition Brands cheering up tech lovers

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Visualize Speech Analytics Market using Verified Market Intelligence -:

Verified Market Intelligence is our BI Enabled Platform for narrative storytelling in this market. VMI offers in-depth forecasted trends and accurate Insights on over 20,000+ emerging & niche markets, helping you make critical revenue-impacting decisions for a brilliant future.

VMI provides a holistic overview and global competitive landscape with respect to Region, Country, Segment, and Key players of your market. Present your Market Report & findings with an inbuilt presentation feature saving over 70% of your time and resources for Investor, Sales & Marketing, R&D, and Product Development pitches. VMI enables data delivery In Excel and Interactive PDF formats with over 15+ Key Market Indicators for your market.

About Us

Verified Market Research® is a leading Global Research and Consulting firm servicing over 5000+ customers. Verified Market Research® provides advanced analytical research solutions while offering information-enriched research studies. We offer insight into strategic and growth analyses, Data necessary to achieve corporate goals and critical revenue decisions.

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Our 250 Analysts and SMEs offer a high level of expertise in data collection and governance use industrial techniques to collect and analyze data on more than 15,000 high impact and niche markets. Our analysts are trained to combine modern data collection techniques, superior research methodology, expertise and years of collective experience to produce informative and accurate research.

We study 14+ categories from Semiconductors & Electronics, Chemicals, Advanced Materials, Aerospace & Defense, Energy & Power, Healthcare, Pharmaceuticals, Automotive & Transportation, Information & Communication Technology, Software & Services, Information Security, Mining, Minerals & Metals, Building & Construction, Agriculture industry and Medical Devices from over 100 countries.

Contact Us

Mr. Edwyne Fernandes
Verified Market Research®
US: +1 (650)-781-4080
US Toll Free: +1 (800)-782-1768
Email: [email protected] 
Web: https://www.verifiedmarketresearch.com/
Follow Us: LinkedIn | Twitter

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Blockchain

Digital Currency Initiative Launches in Taiwan by Collaborating with Prestigious University

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In an innovative effort to revolutionize digital financial education, a prominent digital currency provider has teamed up with a renowned university in Taiwan. This strategic collaboration aims to equip students with advanced knowledge and practical experience, preparing them for the future of finance.

Empowering Future Financial Professional

The partnership focuses on immersing students in the complex world of digital assets, blockchain technology, and cutting-edge financial instruments. Industry experts will offer invaluable insights and mentorship, enhancing students’ understanding and skills in this rapidly evolving field.

Curriculum Highlights:

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  • Blockchain Principles: Foundational knowledge of blockchain technology.
  • Critical Thinking: Developing analytical skills for problem-solving in digital finance.
  • Risk Assessment: Strategies for identifying and managing financial risks.
  • Legal Compliance: Understanding the regulatory landscape and compliance requirements.
  • Career Insights: Exploring potential career paths in the digital finance industry.

Commitment to Digital Economy Growth

This initiative underscores a commitment to fostering the digital economy’s growth by highlighting the stability of digital assets against traditional currencies. The newly introduced digital token combines traditional asset stability with blockchain security, offering a robust financial instrument for the future.

The digital currency provider has a long-standing history of promoting blockchain education and advocating for financial inclusivity. By facilitating cross-border transactions and investing in emerging markets, the organization continues to play a crucial role in shaping digital finance’s future.

Advancing Financial Literacy and Inclusivity

This collaborative effort represents a significant step towards democratizing financial literacy and empowering individuals worldwide to engage with the evolving digital currency landscape.

Additional Facts:

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  • Taiwan’s Blockchain Hub: Taiwan actively promotes itself as a hub for blockchain and digital currency innovation through various initiatives.
  • Research and Development: The partnership is expected to spur increased R&D activities in digital assets, benefiting both academia and industry.
  • Regulatory Exploration: Taiwan’s government is interested in exploring regulatory frameworks for digital currencies and blockchain technology, creating a supportive environment for such collaborations.

Key Questions Addressed

  1. Impact on Adoption: How will the collaboration between the digital currency provider and the university impact the adoption of digital currencies in Taiwan?
  2. Skills and Knowledge: What specific skills and knowledge will students gain from the curriculum focusing on blockchain technology and digital assets?
  3. Regulatory Compliance: How does the initiative address potential regulatory challenges and compliance issues in the digital currency space?

Advantages and Disadvantages

Advantages:

  • Enhanced Education: Offering students unique educational opportunities in digital finance and blockchain technology.
  • Industry-Academia Bridge: Providing hands-on experience and mentorship to bridge the gap between academia and industry.
  • Economic Growth: Contributing to the growth and development of the digital economy in Taiwan and beyond.

Disadvantages:

  • Curriculum Updates: Potential challenges in keeping the curriculum up-to-date with the rapidly evolving digital currency landscape.
  • Practical Exposure: Ensuring students receive practical, real-world experience to complement theoretical knowledge.
  • Regulatory Balance: Balancing the promotion of digital currencies with the need for regulatory compliance and risk management.

The collaboration between the digital currency provider and the Taiwanese university marks a significant milestone in digital financial education. By integrating industry expertise with academic rigor, this partnership aims to nurture the next generation of financial professionals and foster the growth of the digital economy.

Source: smartphonemagazine.com

The post Digital Currency Initiative Launches in Taiwan by Collaborating with Prestigious University appeared first on HIPTHER Alerts.

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Blockchain

Binance Appeals Against $4.3M Penalty Imposed by Canada Regulator

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In a recent court appeal, Binance argued that it does not specifically target Canadian customers, claiming its activity in Canada is merely a byproduct of its international operations, according to a June 19 report by the Canadian Press. The exchange revealed that although it had previously attempted to establish a Canadian presence, these plans were abandoned. By May 2023, Binance had fully exited the Canadian market, citing new regulations on stablecoins and investor restrictions that made continued operations unfeasible. Despite its departure, Binance acknowledged the sentimental value of Canada, being the home country of its founder.

In May, the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) imposed a $4.3 million fine on Binance for non-compliance with anti-money laundering (AML) and terrorist financing rules. FINTRAC claimed that between June 2021 and July 2023, Binance failed to report over 5,000 transactions of $10,000 or more. Additionally, despite having multiple opportunities, Binance failed to register as a money services business within the deadlines set by the regulator.

Beyond its issues in Canada, Binance is facing a multitude of legal challenges globally. In April, a class-action lawsuit was filed against the exchange in Canada, accusing it of violating securities laws. The plaintiffs allege that Binance sold crypto derivative products to everyday investors without proper registration, breaching Ontario’s Securities Act and federal regulations. This lawsuit, representing tens of thousands of Canadian investors, seeks compensation and the reversal of unauthorized trades.

Globally, Binance has also faced significant financial penalties. In November, the exchange settled with US authorities, agreeing to a $4 billion fine for violations of anti-money laundering and sanctions laws. Similarly, the Indian Financial Intelligence Unit imposed a $2.24 million fine, the largest ever against a crypto entity in the country, for failing to comply with AML regulations.

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Binance’s regulatory and legal troubles illustrate the significant challenges faced by cryptocurrency exchanges operating across multiple jurisdictions. While the exchange continues to navigate these complexities, its ability to comply with global regulatory standards and address legal disputes will be critical to its long-term viability and reputation in the market.

Source: cryptonews.com

The post Binance Appeals Against $4.3M Penalty Imposed by Canada Regulator appeared first on HIPTHER Alerts.

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Blockchain

Binance.US Dealt Another Blow: North Dakota Revokes License

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Following the lead of states like Florida, Alaska, Oregon, Maine, and North Carolina, North Dakota has moved to block Binance.US from regaining its money transmitter license. This decision by the North Dakota Department of Financial Institutions (DFI) is grounded in a November 2023 guilty plea by Binance founder Changpeng Zhao on anti-money laundering charges, further questioning the exchange’s suitability for operation.

Protecting Public Interest

DFI Commissioner Lise Kruse emphasized the need to protect the public interest in her statement: “The Commissioner finds the Respondent does not continue to meet the qualifications or satisfy requirements that may apply to an applicant for a new money transmitter license.” This decision adds North Dakota to the growing list of states placing Binance.US in regulatory “penalty boxes.”

Global Troubles and US Regulatory Concerns

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The regulatory issues faced by Binance.US in the United States reflect broader global challenges. For instance, a recent regulatory conflict in Nigeria, which resulted in the detention of a Binance executive, raises additional concerns for US regulators, complicating Binance.US’s situation further.

Impact and Outlook for Binance.US

Currently, Binance.US is unable to onboard new users in several regions and is entirely inaccessible in over 10 states. The exchange has until July 17, 2024, to challenge North Dakota’s decision. However, the outlook remains uncertain, given the mounting restrictions and regulatory pressures.

The relatively short prison sentence for Zhao might suggest a potential course correction within Binance. By prioritizing user safety and adhering strictly to US regulations, Binance.US could potentially regain some lost ground. The exchange’s future hinges on its ability to address regulatory compliance issues effectively.

The Broader Implications

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This regulatory crackdown highlights the evolving landscape of cryptocurrency regulation. While the innovative potential of cryptocurrencies is significant, exchanges must operate within established regulatory frameworks to maintain trust and stability in the market. Binance.US’s struggle will be closely watched by the entire cryptocurrency industry, serving as a cautionary tale for exchanges that prioritize growth over compliance.

Source: bitcoinist.com

The post Binance.US Dealt Another Blow: North Dakota Revokes License appeared first on HIPTHER Alerts.

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