Investment in speech analytics set to double
Expenditure on speech analytics in call centres is set to double over the next five years, although it is unlikely to become a ‘must-have’ technology any time soon, according to Ovum.
In its report entitled ‘Emerging technology to business solution: the evolving speech analytics market’, the researcher predicted that the sector would grow in value from about $95 million in 2009 to $180 million by 2014, a compound annual rate of 13.5%.
Although the technology was still in the early adoption phase, it would grow in importance as businesses started understanding how they might use it to enhance their customer processes and boost loyalty.
Aphrodite Brinsmead, an analyst at Ovum and the report’s author, said: "Companies have shown significantly more interest in the technology as they begin to understand the business case. Consequently, they can now justify the costs despite tightening IT budgets."
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