New York, July 15, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Audio Communication Monitoring Global Market Report 2022" - https://www.reportlinker.com/p06285802/?utm_source=GNW
, Intelligent Voice Ltd, Fonetic Solutions, Nexidia, Behavox Ltd, Nectar Services Corporation, Nugen Audio, Ameyo, Avaya, Veritone, Relativity, PathSolutions, Empirix, Genesys, Vyopta, Elastix, Dashbase, Ribbon Communications, Deepgram, Haloocom, Toku, and Servetel.
The global audio communication monitoring market is expected to grow from $6.31 billion in 2021 to $7.68 billion in 2022 at a compound annual growth rate (CAGR) of 21.7%. The audio communication monitoring market is expected to grow to $15.81 billion in 2026 at a CAGR of 19.8%.
The audio communication monitoring market consists of sales of audio communication devices by entities (organizations, sole traders, and partnerships) that are used to analyze audio conversations and recordings.Audio communication monitoring records the sounds from the surroundings.
It involves audio monitoring that allows ARC (Audio Return Channel) to listen to the sounds by using an intruder detector. Audio communication monitoring is used in alarm verification, deterrence, and prevention and also improves the operations by enhancing the employee–to–customer and employee-to-employee communications and also used to conduct efficient communication in day-to-day business activities.
The main types of audio communication monitoring are wired communication and wireless communication.The wired audio communication monitoring is used to transfer the data at high speed.
Wired communications are used to provide higher protection from attacks and transfer the data by using wired-based technology.The different organization sizes include large enterprises, and small and medium-sized enterprises and involve various components such as solutions, and services.
It is deployed in the cloud, and on-premises and used by several sectors such as BFSI, media and entertainment, retail and e-commerce, telecom and it, government, healthcare, and life sciences, others (travel and hospitality, education, and transportation and logistics).
North America was the largest region in the audio communication monitoring market in 2021.Asia Pacific is expected to be the fastest growing region in the forecast period.
The regions covered in the audio communication monitoring market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
An increase in risk for telemarketing fraud, cybercrimes, and system hacking is expected to propel the growth of the audio communication monitoring market going forward.Telemarketing fraud involves spam emails, spam calls, and spam messages, and similarly, cybercrimes and system hacking are occurred because of data breaches.
Cybercrime operations include employing network-connected equipment, such as webcams or closed-circuit television (CCTV) cameras as well as audio monitoring communications, such as calls, emails, text messages, and instant chats, to spy on a targeted individual or group.For instance, according to Purplesec, a US-based cyber security company, a new organization became a victim of ransomware every 14 seconds in 2019, and in every 11 seconds by 2021.
Moreover, according to Accenture, an Ireland-based information technology company, the average number of security breaches due to cyberattacks stood at 145 in 2019. Therefore, an increase in risk for telemarketing fraud, cybercrimes, and system hacking is driving the growth of the audio communications market.
The growing use of artificial intelligence (AI) and NLP (NLP) technologies is a key trend gaining popularity in the audio communication monitoring market.NLP is one of the branches of AI that make the machine understand the language of humans.
Many companies operating in the audio communication monitoring sector are launching innovative technologies related to AI to meet consumer demand.For example, in July 2021, Tata Communications, an India-based telecommunications company launched the ’IZO Financial Cloud’ platform.
This platform enables open banking, provides digital services and strengthens customer trust by providing security through a cloud model involving artificial intelligence, blockchain, and machine learning.
In May 2020, Cisco, a US-based technology acquired ThousandEyes for a deal amount of $1 billion.With this acquisition, Cisco plans to integrate ThousandEyes into its networking services business segment and enhance its cloud-based software offering.
ThousandEyes is a US-based network intelligence company that offers audio communication monitoring.
The countries covered in the audio communication monitoring market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Read the full report: https://www.reportlinker.com/p06285802/?utm_source=GNW
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