March 30, 2020

Audio Communication Monitoring Market Is Driven By Increasing Number of BPOs Across The Globe

According to a new market research report published by Credence Research “Global Audio Communication Monitoring Market (Component (Solution, Services) Organization Size (Large Enterprise, SMEs); Vertical (BFSI, Government, Healthcare, Media & Entertainment, IT & Telecom, Others ); Application (Law Enforcement Agencies, Sales and Internal Communication Monitoring, Commercial and Sensitive Areas, Employee/Agent Monitoring, Multichannel Monitoring/Broadcast Monitoring)) – Growth, Future Prospects and Competitive Analysis, 2019 – 2027”

The overall audio communication monitoring market worldwide was valued at US$1.50 Bn in 2018 and is set to grow with a CAGR of 16.1% during the forecast period. 

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Audio Communication Monitoring Market

Market Insights

The global audio communication monitoring market is highly driven by an increasing number of BPOs globally, which is the major factor that is increasing the demand for audio communication monitoring. The ability of the audio communication monitoring is defined as a process that processes, records and analyzes the communication in real-time or which are recorded. This monitoring allows managers or operators to analyze the working of the process agents. Moreover, the audio communication monitoring also enables the managers to look into issues in real-time making it a highly productive technology. 

In BPOs and call centers, audio communication monitoring has the most importance in agent skill building, development, training, and enhancing the entire workforce. In 2018, NTT Communications collaborated with Arkadin and launched their improved UC-Connect solution, a cloud-based solution that combines Arkadin’s UC technology and NTT Communications SD-WAN capabilities. 

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Based on application, the audio communication monitoring market has been segmented law enforcement agencies, sales, and internal communication monitoring, commercial and sensitive areas, employee/agent monitoring, and multichannel monitoring/broadcast monitoring. Currently, the employee/agent monitoring segment holds the largest market share due to the early adoption of the technology. Moreover, this allows the managers to keep track of the performance of the agent or the employ and his conversion ratio. 

Asia-Pacific is expected to be the fastest-growing market due to the presence of various telecommunications, financial, banking and other industry in the region which are using audio communication monitoring. Moreover, the development in the region also drives the market. Additionally, the increasing BPOs in countries such as India, and China are also contributing to the market in the region. 

Some of the prominent players operating in the audio communication monitoring market include Cisco Systems, ICE Systems, IBM Corporation, Nexidia, Inc., Nectar Services Corporation, Nuance Communications, Fonetic Solutions, Behavox Ltd.,  Tata Communications Ltd., Ameyo, NUGEN Audio, Intelligent Voice, and NICE System Ltd.

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