DMG Consulting LLC, a provider of contact center and real-time analytics research, market analysis, and technology consulting services, has published the 2008 Speech Analytics Market Report. The speech analytics market grew by a resounding 106% in 2007, producing a four-year compounded annual growth rate (CAGR) of 268%. DMG forecasts continued market expansion at a rate of 70% in 2008, and 50% in 2009, despite challenging economic conditions. This market is growing rapidly; there are now 22 competitors, and many new entrants are planning to introduce solutions within the next few months.
Speech analytics is attracting a great deal of attention because of its proven ability to provide enterprises with insights into customer needs and wants. This is translating into significant productivity savings for contact centers, and increased customer retention and revenue for enterprises.
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