Voice Analytics Market Report 2025

This report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography.

The voice analytics market size has grown rapidly in recent years. It will grow from $1.3 billion in 2024 to $1.54 billion in 2025 at a compound annual growth rate (CAGR) of 18.5%. The growth in the historic period can be attributed to continued emphasis on customer experience, expansion of ai and machine learning applications, rise in remote work trends, increased cybersecurity concerns, integration with conversational ai and chatbots.

The voice analytics market size is expected to see rapid growth in the next few years. It will grow to $3.01 billion in 2029 at a compound annual growth rate (CAGR) of 18.2%. The growth in the forecast period can be attributed to increasing need for customer insights, rising concerns about fraud and security, advancements in natural language processing (nlp), demand for enhanced customer experience, growth of e-commerce and telecommunications. Major trends in the forecast period include integration with edge computing, incorporation of explainable ai, customization for industry-specific solutions, enhanced security measures, voice analytics for employee productivity.

The anticipated increase in focus on risk and fraud detection is poised to drive the growth of the voice analytics market. Risk and fraud detection encompass the processes and technologies utilized to identify, assess, and mitigate potential threats and fraudulent activities across various domains, including finance, cybersecurity, and business operations. Integrating voice analytics into broader fraud detection strategies enhances security measures, enabling organizations to identify and mitigate potential risks associated with voice interactions. In February 2023, the Federal Trade Commission reported a significant surge in consumer-reported fraud losses, reaching almost $8.8 billion in 2022, representing a growth of over 30% compared to 2021 figures. Imposter scams accounted for a reported loss of $2.6 billion in 2022, indicating an increase from $2.4 billion in 2021. The heightened focus on risk and fraud detection is a key driver for the growth of the voice analytics market.

Major players in the voice analytics market are concentrating on creating innovative solutions, such as automated call transcription tools, to improve customer experience by providing real-time insights from interactions. Automated call transcription tools are software applications that utilize artificial intelligence (AI) and machine learning to transform spoken language during phone calls into written text, either in real time or post-call. For example, in March 2024, ACK3, a technology company based in Spain and specializing in advanced security solutions, launched its Layered Voice Analysis (LVA) tool globally. This cutting-edge technology analyzes vocal patterns to reveal hidden emotional states and cognitive processes, primarily aimed at enhancing fraud prevention and building organizational trust. By detecting emotions, stress levels, and signs of deception, the LVA tool enables businesses to evaluate potential risks, such as employee loyalty and collaboration. This launch represents a significant advancement in corporate security, providing organizations with the means to protect sensitive information and foster a culture of transparency and integrity.

In February 2023, Uniphore, a US-based automation company offering a multimodal AI and data platform for enterprises, acquired Redbox Automated Retail, LLC, for an undisclosed amount. This acquisition aims to enhance Uniphore's conversational AI capabilities by giving businesses more control over their voice and screen data, which facilitates better compliance and provides deeper insights for improved customer interactions. Redbox Automated Retail, LLC is a US-based entertainment company that utilizes Voice Analytics to convert captured voice data into real-time, actionable insights.

Major companies operating in the voice analytics market report are The International Business Machines Corporation, Avaya Holdings Corp, NICE Ltd., Verint Systems Inc., Five9, Appen Limited, Gong.io Inc., Nextiva, Inc., ThoughtSpot Inc., Uniphore Technologies Inc., Invoca, Inc., Calabrio Inc., CallMiner, Symphony Communications, Talkdesk Inc., Nexidia Inc., Ai Cure Technologies, SESTEK Speech and Language Technologies Inc., EvaluAgent, VoiceBase Inc., Beyond Verbal Communication, Ltd., Clarabridge Inc., VoiceSense Ltd., audEERING GmbH, Xdroid Inc., Voci Technologies Incorporated, Observe.AI, ClearSpeed, Tether Limited Inc., Chorus.ai.

North America was the largest region in the voice analytics market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the voice analytics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the voice analytics market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The voice analytics market consists of revenues earned by entities by provide voice analytics services such as speech recognition and conversion, natural language understanding (NLU) and processing, emotion and speaker analysis, and data management. The market value includes the value of related goods sold by the service provider or included within the service offering. The voice analytics market also includes sales of voice recognition systems, voice biometrics systems, emotion detection systems, and voice stress analysis (VSA) systems which are used in providing voice analytics services. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

Voice analytics indeed involves analyzing spoken words and vocal patterns to extract valuable insights. The utilization of advanced technologies such as speech recognition, natural language processing (NLP), and machine learning enables the interpretation and understanding of spoken language. This versatile tool finds applications across various sectors, including customer service, market research, security, and healthcare.

The key components of voice analytics encompass both solutions and services. Solutions refer to methods, strategies, products, or approaches specifically designed to address and resolve particular problems or challenges within a given context. These solutions cater to organizations of varying sizes, including small and medium enterprises (SMEs) and large enterprises. They offer deployment options such as on-premises and cloud, serving applications such as sentiment analysis, sales and marketing management, risk and fraud detection, call monitoring, and others. The application of voice analytics spans across diverse industries, including banking, financial services and insurance (BFSI), retail and e-commerce, healthcare, telecommunications, government and defense, among others.

The voice analytics market research report is one of a series of new reports that provides voice analytics market statistics, including voice analytics industry global market size, regional shares, competitors with voice analytics market share, detailed voice analytics market segments, market trends, and opportunities, and any further data you may need to thrive in the voice analytics industry. This voice analytics market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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