Audio Communication Monitoring Market: Competitive Analysis With Growth Forecast Till 2020

Audio communication monitoring is a highly modified application that supports integration of all the multichannel communication within the organization and can be customized as per the requirements.

(EMAILWIRE.COM, August 24, 2018 ) The complexity of the communication environment in which the organizations operate now-a-days has increased. The communication taking place within the organization and outside the organization, such as clients’ and customers’ interaction needs to be analyzed whether or not the compliance requirement has been adhered to by the agents. Audio communication monitoring is a highly modified application that supports integration of all the multichannel communication within the organization and can be customized as per the requirements.

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The audio communication market is a growing market driven by various trends associated with the implementation with company’s operations. Vendors in this market are focusing on packaged solutions that can be integrated into other solutions, such as workforce management solution and analytics software. Audio communication monitoring is also integrated with real-time analytics and real-time guidance tools. The integration assists the end users in taking appropriate actions on customer and client conversations over a short period of time.

Major drivers of the market includes rising significance of the risk and compliance management, increase in the number of BPO services, and increasing significance on security and call monitoring. The audio communication monitoring market faces many challenges of data and information security concerns and increase in the number of players. Major factors that are restraining the growth of the market are lack of awareness and legacy architecture. Audio communication monitoring vendors see emergent opportunities for the higher adoption of audio monitoring due to factors such as enhancing customer experience and increasing the overall organizational productivity.

Globally, the market is growing owing to its implementation in APAC and RoW. In the audio communication monitoring market, North America is estimated to hold the largest market share, considering the technological advancement in the region and APAC has the fastest-growing market for the audio communication market due to huge investments being done in the region as compared to the others. The implementation of audio monitoring helps the organization in capturing and analyzing customer and client’s audio and voice interaction over the call. The analysis tracks the trends, quality throughout the call, and information that is being provided; assesses the areas of improvement; demonstrates the data into the dashboards; and reports to the upper level management for taking appropriate and timely decisions.

The table given below highlights the market size of the global audio communication monitoring from 2013 to 2020. The audio communication monitoring market is expected to grow from USD 795.4 Million in 2015 to USD 2,145.3 Million by 2020, at a Compound Annual Growth Rate (CAGR) of 21.9%. The global market is further segmented on the basis of applications, solutions and services, organization sizes, verticals, and regions.

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