Audio Communication Monitoring System Market by Product (Quality Analysis, Voice Biometric Access System, Loudness Metering, and Monitoring), and Industrial Vertical (IT & Telecom, BFSI, Healthcare, Media & Entertainment and Transportation & Logistic, and Others): Global Opportunity Analysis and Industry Forecast, 2019–2026
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Jul 2020 |
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Audio communication monitoring is the system that is used for analyzing audio conversations and recordings. Audio examination system finds application in operation to improve services, in research departments of companies to improvise their products, for business development. Thus, are used in the industrial verticals such as telecommunication & IT, banking financial & insurance industry, media & entertainment, government, healthcare, and defense & law enforcement agencies. In addition, audio monitoring systems also hold a huge importance in broadcasting, monitoring, internal communication, research, security, outsourcing services for delivering error free and precise content to the end user.
Proliferation of advanced devices for effective people & process management as well as corporate governance across various industry vertical, act as one of the factors that drives the growth of the audio communication monitoring system market. The monitoring and analyzing recorded audio conversation for process enhancement, client servicing, training & development creates huge importance of audio monitoring devices. For instance, the use of audio communication software and hardware in the tele-sales of BFSI, e-commerce, and other verticals is used as a part of customer acquisition & retention process. This leads to the effective customer and client management, and hence boosts the company’s profitability and brand value.
There is an increase in the demand for audio communication monitoring systems owing to rise in concern related toward tele fraudulent activities. These systems are installed and used to curb and track unlawful activities by the public safety and security firms. For instance, the UAVs is installed with audio monitoring systems for such malicious recognition. Further, development in the service industry that operates majorly on these audio monitoring systems. Therefore, the edified number of BPOs and call centers act as catalyst to the audio communication monitoring system market. In addition, the use of these systems by the business development to monitor employee skills and analyses the demand for consumers as a part of strategy also finds a wide scope for its future market.
Audio communication monitoring system has been used by the defense and law enforcement agencies as it provides insights of internal communication for protection & confidentiality, espionage, tracking, monitoring of the information in Defense, Aerospace & defense, law enforcement, and intelligence department. For example, the drone developed and used by the military, and other law enforcement verticals are equipped with audio communication monitoring system for audio tracking, reconnaissance, and other purpose as well. Therefore, the use of advanced audio communication system is expected to grow during the projected period, thus boosting the growth of the global market. However, the requirement of these systems for large storage spaces increases the cost of operation for the company, thus restraining the audio communication monitoring system market growth.
The audio communication monitoring market is segmented on the basis of product type, industrial vertical, and region. Based on product type, it is categorized into quality analysis, voice biometric access system, and loudness metering & monitoring. On the basis of industrial vertical, it is classified into IT & telecom, BFSI, healthcare, media & entertainment and transportation & logistic, and others. Based on region, it is studied across North America, Europe, Asia-Pacific, and LAMEA.
The key players profiled under audio communication monitoring system industry include IBM Corporation, Cisco Systems, Inc., NICE Systems Limited, Tata Communications Ltd., Nectar Services Corporation, Nexidia, Inc., Intelligent Voice Ltd, Fonetic Solutions, and Behavox Ltd.
KEY BENEFITS FOR STAKEHOLDERS
- This study includes the analytical depiction of the global audio communication monitoring system market size along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information regarding the key drivers, restraints, and opportunities.
- The current audio communication monitoring system market is quantitatively analyzed from 2019 to 2026 to highlight the financial competency of the industry.
- Porter’s five forces analysis illustrates the potency of the buyers and suppliers in the industry.
KEY MARKET SEGMENTS
By Product Type
- Quality Analysis
- Voice Biometric Access System
- Loudness Metering and Monitoring
By Industrial Vertical
- IT & Telecom
- BFSI
- Healthcare
- Media & Entertainment
- Transportation & Logistics
- Others
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- UK
- Germany
- France
- Italy
- Rest of Europe
- Asia-Pacific
- China
- India
- Japan
- South America
- Rest of Asia-Pacific
- LAMEA
- Latin America
- Middle East
- Africa
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