The North American speech analytics market is dominated by NICE Systems Ltd., Verint Systems Inc., CallMiner, Nexidia Inc., and HP Autonomy and these market players are expected to lead the market in the coming years as well. NICE Systems has the highest market share in the North American speech analytics market and owns a wide product portfolio including a range of video management and analytics, audio recording, situation management, and intelligence solutions. The company operates through three business segments which include customer interaction management, financial crimes and compliance, and security. It is one of the leaders in the North American speech analytics market owing to new innovations and expansions in the software and solutions group.
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Besides, Verint Systems is also a key player in the North American speech analytics market. Over the past few years, the company has been focusing on the expansions as its key business strategy to increase its share. The company has a wide product portfolio including RELIANT, VANTAGE, CYBERVISION, and educational services.
The leading players are adopting strategies, such as new product launches, product approvals, partnerships, agreements, collaborations, joint ventures, acquisitions, and expansions to access new technologies, expand their product portfolios, enter the new markets, and to increase their market share. In addition to the top market players, companies such as, TIBCO Software Inc., HP, and others are also primarily focusing on launching new speech analytics systems, product approvals and strategic agreements, partnerships, and collaborations to widen their customer base.
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There are major strategic developments taking place in the field of cloud computing, big data analytics, customer relationship management (CRM), real-time analytics, and social analytics. The dominant market players such as, IBM, Oracle, and Microsoft have introduced several technologically advanced systems, and entered into strategic agreements and partnerships to keep pace with the latest market trends.
