Audio Communication Monitoring Market Size, Share, Growth Report 2032

Audio Communication Monitoring Market

Audio Communication Monitoring Market By Solution (Quality Analysis, Voice Biometric Access System, And Loudness Metering And Monitoring) For BPO, Telecommunication And IT, Banking And Financial, Insurance, Healthcare, Media And Entertainment, Transportation And Logistics And Others - Global Industry Analysis, Size, Share, Growth, Trends And Forecast, 2021 – 2028

Category: Technology & Media Report Format : PDF Pages: 150 Report Code: ZMR-1101 Published Date: May-2021 Status : Published

The global Audio Communication Monitoring market accounted for USD 2.1 Billion in 2020 and is expected to reach USD 5.2 Billion by 2028, growing at a CAGR of around 12.6% between 2021 and 2028.

Audio Communication Monitoring Market

Market Overview     

The global Audio Communication Monitoring market accounted for USD 2.1 Billion in 2020 and is expected to reach USD 5.2 Billion by 2028, growing at a CAGR of around 12.6% between 2021 and 2028.

Audio communication monitoring wires incorporate all the multichannel communication within the organization and may be altered as per the needs and wants or per the situation. This market is additionally integrated with real-time analytics alongside real-time control tools. This integration helps the top users in taking corrective actions on client and customer conversations over a brief time.

Growing employment of high-tech solution systems paired with an increase in risk for telemarketing fraud, cyber crimes,  and system hacking has enhanced the event of audio communication monitoring market. BPOs and call centers are major clients within the audio communication monitoring market. The elevation within the quantity of working BPOs is that the key lift of the audio communication monitoring market. Since, call recording and analysis are substantial procedures executed in these companies, the audio communication monitoring market is advancing radically. The elevation in compliance and risk management boosts the audio communication monitoring market.    

Increasing significance on security, compliance management, and call monitoring is the main chauffeurs which help in surging the expansion of audio communication monitoring market whereas lack of legacy architecture act as a restraining factor for this market. Real-time call monitoring will lessen problems and increase competence within the organization.

COVID-19 Impact Analysis

The global Audio Communication Monitoring market has witnessed a slight decline in the sales for the short term to the lockdown enforcement placed by governments to contain COVID spreading. The pandemic has an impression on all the weather of the technology sector. The worldwide ICT spending is projected to say no by 5%–6% by the top of 2021. Moreover, the hardware business is projected to possess the foremost impact on the IT industry. Owing to the slowdown of hardware supply and concentrated manufacturing capacity, the IT infrastructure growth has bogged down. Businesses providing solutions & services also are expected to hamper for a brief time. However, the acceptance of collaborative applications, security solutions, analytics, and AI is about to extend within the remaining part of the year. The market would remain bullish in the upcoming year as well. The restrictions imposed by various nations to contain COVID has a substantial impact on economies and societies. Shutting down of manufacturing units for an indefinite time, industries are progressively looking for technologies to support them through these problematic times.  Various scenarios have been analyzed based on inputs from various secondary sources and the current data available about the situation.

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Growth Factors

The high adoption rate of audio communication monitoring in small and medium-sized businesses is an opportunity, which is anticipated to lift the growth of the global audio communication monitoring market. Audio communication monitoring systems are employed for observation and to watch criminal terrorist & activities happening everywhere in the state, thus bolstering the audio communication monitoring market. An increasing requirement in the telecommunication industry for real-time call monitoring has resulted in the growth of the audio communication monitoring market. Real-time call monitoring will reduce difficulties and elevate the competence of operation within the company, which lifts the audio communication monitoring market.

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Segment Analysis Preview  

The quality analysis solution type segment holds the major share in the market and is likely to remain the most dominant Solution Type during the forecast period, owing to its adoption across verticals to aid in resolving customer queries through surveillance. These solutions are further capable of making an in-depth analysis of the speech through the mixing of varied technologies. Audio communication monitoring solutions comprise call recording software & quality analysis; reporting & analytics; and audio loudness, metering, and monitoring. These solutions help businesses to not only maintain audit and compliance needs but also in getting the proper insights to the proper people at the proper time. Most of those solutions offered are claimed to be easy to deploy and are feature-rich to deal with the rigors and requirements of communication centers.

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Regional Analysis Preview  

North America is predicted to carry the most important market size within the global audio communication monitoring market during the forecast period. The US has emerged because of the largest market, owing to the increasing investments and a growing presence of vendors who are exploring the utilization of NLP and AI technologies for various applications. The US market widely adopts NLP and AI technologies in its business establishments and other verticals, catering to customers in a better way and continually improving business efficiencies. The country has advanced infrastructure, innovations, and initiatives necessary to evolve audio communication monitoring into robust solutions with innovative benefits.

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Key Market Players & Competitive Landscape

Some of the major players dominating the global Audio Communication Monitoring Market are IBM Corporation, Intelligent Voice Ltd., Nexidia, Inc., Behavox Ltd., Fonetic Solutions, Cisco Systems, Ltd., Nectar Services Corporation, Tata Communications Ltd., and NICE Systems Ltd. These players are set to augment the development of audio communication monitoring market in the years to come. The global Audio Communication Monitoring Market is segmented as follows:

By Solution

  • Quality Analysis
  • Voice Biometric Access System
  • Loudness Metering and Monitoring

By Vertical

  • BPO, Telecommunication and IT
  • Banking and Financials
  • Insurance
  • Healthcare
  • Media and Entertainment
  • Transportation and Logistic

By Region

  • North America
    • The U.S.
    • Canada
  • Europe
    • France
    • The UK
    • Spain
    • Germany
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Southeast Asia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa

Table Of Content

Methodology

Free Analysis

FrequentlyAsked Questions

The global Audio Communication Monitoring Market was valued at USD 2.19 billion in 2020.

The global Audio Communication Monitoring Market is expected to reach USD 5.26 billion by 2028, growing at a CAGR of 12.6% between 2021 to 2028.

Some of the key factors driving the global Audio Communication Monitoring Market growth are, increasing tele fraudulent activities & cybercrimes, need for analyzing audio conversations in real time, and growing demand for risk & compliance management.

North America region held a substantial share of the Audio Communication Monitoring Market in 2020. The US has emerged as the largest market, due to the increasing investments and a growing presence of vendors who are exploring the use of AI and NLP technologies for various applications. 

Some of the major companies operating in Audio Communication Monitoring Market are IBM Corporation, Intelligent Voice Ltd., Nexidia, Inc., Behavox Ltd., Fonetic Solutions, Cisco Systems, Ltd., Nectar Services Corporation, Tata Communications Ltd., and NICE Systems Ltd.

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