According to the report, the global Audio Communication Monitoring Market was valued at approximately USD 926.62 million in 2016 and is expected to reach approximately USD 3,040.36 million by 2022, growing at a CAGR of around 22.02% between 2017 and 2022.
Telecommunication industry is witnessed rapid growth due to call centers and BPOs. The combination of network and IT infrastructure makes audio communication monitoring so easy and flexible which led audio communication monitoring market globally. The increase in high demand for a technological solution in communication industry drives audio communication monitoring market. Audio communication monitoring is the system which records the calls during client interaction on phone, which used by most of the companies to analyze speech and transitions. Call identification is the main challenge before telecommunication industry nowadays. IT manager is searching for new ways for the process of identification issue to keep their communication secure and effective. Audio communication is an important operation or tool for businesses to keep their competitiveness globally. As audio communication monitoring market is growing rapidly, enterprises need to understand the rules and laws regarding audio communication recording. There should not be any misunderstanding regarding audio communication rule and laws as this is very important security tool for enterprises. Companies should tell the staff that audio recording is the tool which is for security reason only. These are practices can companies do while installing the audio communication monitoring system to avoid misperception among the employees regarding audio communication monitoring system.
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Audio communication monitoring system is primarily used in telecommunication industry to analyze voice quality over calls. Increasing use of high technology solution system, there has been an increase in risk for telemarketing fraud, cyber crimes, and system hacking. To monitor such crimes audio communication monitoring system is important to install in the system of organizations. Call recording or audio recording is the key element or tool for the security in an organization. Communication happening within or outside organization such as client interaction and customer call these things have to monitor and analyze for various reasons such as security and risk.
Audio communication monitoring market is segmented on the basis of the solution, vertical and regional. Solution segment covered under this quality analysis, voice biometric access system and loudness metering and monitoring. Voice verification and voice biometric system are used to identify a particular person over the call. Claimed identification can find out by this voice biometric system. When there is no other identification other than voice then this voice biometric system can be used to identify the person. This particular system is often used by call centers and BPOs for call surveillance.
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Vertical segment covered under this study BPO, telecommunication and IT, banking and finance, insurance, healthcare, media and entertainment and transportation and logistics. The regional segmentation includes the current and forecast demand for North America, Europe, Asia Pacific, Latin America and the Middle East and Africa with its further bifurcation into major countries including U.S. Germany, France, UK, China, Japan, India, and Brazil.
The report covers detailed competitive outlook including company profiles of the key participants operating in the global market. Key players profiled in the report include Intelligent Voice Ltd., IBM Corporation, Behavox Ltd., Nexidia, Inc., and Cisco Systems, Ltd., Fonetic Solutions, Tata Communications Ltd., Nectar Services Corporation, and NICE Systems Ltd.