Sarasota, FL, July 20, 2017 (GLOBE NEWSWIRE) -- Zion Market Research has published a new report titled “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 Other Application- Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2016 – 2022". According to the report, the global audio communication monitoring market was valued at approximately USD 926.62 million in 2016 and is expected to reach approximately USD 3,040.36 million by 2022, growing at a CAGR of around 22.02% between 2017 and 2022.
Audio communication monitoring system is the technology which records the audio files which are used by enterprises, call centers for compliances, speech analysis and call log. Audio communication monitoring systems have become one of the more important operations of day to day life for call centers and enterprises in adherence with risk and compliance management. These operations consist of audio recording during call conference, calls of clients, customer interaction and other for future reference. Audio communication monitoring system is primarily used in telecommunication industry to analyze voice quality over calls.
Browse through 16 Market Tables and 29 Figures spread through 110 Pages and in-depth TOC on "Global Audio Communication Monitoring Market: Type, Application, Size, Share and Forecast 2016 – 2022”.
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Increasing use of high technology solution system, there has been an increase in risk for telemarketing fraud, cyber crimes, and system hacking. To monitor such crimes audio communication monitoring system is important to install in the system of organizations. BPOs and call centers are a major customer of audio communication monitoring system. The increase in the number of operating BPOs is the main driver of this market. Because call recording and call analysis are important operations carried out in these companies. The increase in risk and compliance management drives the audio communication monitoring market. Because of increase in cyber crimes and telemarketing fraud, the importance of audio communication monitoring systems is been increasing nowadays. Because of lack of awareness of audio communication monitoring system among the traditional call centers and BPOs restrain this market. Audio communication monitoring systems are used for surveillance and to keep eye on criminal and terrorist activities happening across the nation. Growing demand for real time call monitoring in telecommunication industry has led the market. Real time call monitoring will definitely minimize difficulties and increase the efficiency of operation in the organization, which drives audio communication monitoring market.
North America is holding the largest market share of audio communication monitoring market in terms of revenue as well as volume due to the advancement of technology such as improved call recording system. Most of the BPOs and call centers are in North America region. Due to this, audio communication monitoring systems are used by this region is highest. Due to increase in adoption of audio recording systems by companies in U.S., audio communication monitoring market is growing rapidly in this region. A large number of vendors of audio recording systems makes North America market leader in audio communication monitoring market.
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Europe is the second largest market for audio communication monitoring system due to increase in adoption of an audio communication recording systems in healthcare and BFSI industry. They are realizing the importance of these systems in their offices.
Due to increase in developing infrastructure and awareness of benefits of audio communication monitoring system, Asia Pacific region stood next market leader after Europe. Increasing companies like BPOs and call centers in India and China drive audio communication monitoring market in Asia Pacific region. Rapid economic development in the region, increasing citizen prosperity is playing a key role in the growth of this market.
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Latin America, Middle East, and Africa are likely to have moderate growth for audio communication monitoring market during the estimated five years. Shifting technological preferences in BPOs and call centers coupled with increasing demand for audio communication recording devices is expected of fuel the audio communication monitoring market within the forecast period. Audio communication monitoring market is segmented on the basis of the solution, vertical and regional. Solution segment covered under this quality analysis, voice biometric access system and loudness metering and monitoring. Vertical segment covered under this study BPO, telecommunication and IT, banking and finance, insurance, healthcare, media and entertainment and transportation and logistics. The regional segmentation includes the current and forecast demand for North America, Europe, Asia Pacific, Latin America and the Middle East and Africa. with its further bifurcation into major countries including U.S. Germany, France, UK, China, Japan, India, and Brazil.
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The report covers detailed competitive outlook including company profiles of the key participants operating in the global market. Key players profiled in the report include Intelligent Voice Ltd., IBM Corporation, Behavox Ltd., Nexidia, Inc., and Cisco Systems, Ltd., Fonetic Solutions, Tata Communications Ltd., Nectar Services Corporation, and NICE Systems Ltd.
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The report segments telecom billing and revenue management market into:
Global Audio Communication Monitoring Market: Solution Segment Analysis
- Quality Analysis
- Voice Biometric Access System
- Loudness Metering and Monitoring
Global Audio Communication Monitoring Market: Vertical Segment Analysis
- BPO, Telecommunication and IT
- Banking and Financials
- Insurance
- Healthcare
- Media and Entertainment
- Transportation and Logistic
Global Audio Communication Monitoring Market: Region Segment Analysis
- North America
- U.S.
- Europe
- UK
- France
- Germany
- Asia Pacific
- China
- Japan
- India
- Latin America
- Brazil
- The Middle East and Africa
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