Audio Communication Monitoring Global Market Report 2023

NEW YORK, March 3, 2023 /PRNewswire/ -- Major players in the audio communication monitoring market are NICE, Cisco, IBM, Enghouse Interactive, Google, AudioCodes, Integrated Research, Martello Technologies, Nuance Communication, Tata Communications Ltd., Intelligent Voice Ltd., Fonetic Solutions, Nexidia, Behavox Ltd., Nectar Services Corporation, Nugen Audio, Ameyo, Avaya, Veritone, Relativity, PathSolutions, Empirix, Genesys, Vyopta, Elastix, Dashbase, Ribbon Communications, Deepgram, Haloocom, Toku, and Servetel.

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The global audio communication monitoring market grew from $7.68 billion in 2022 to $9.33 billion in 2023 at a compound annual growth rate (CAGR) of 21.5%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services, and affecting many markets across the globe. The audio communication monitoring market is expected to grow to $20.48 billion in 2027 at a CAGR of 21.7%.

The audio communication monitoring market consists of revenues earned by entities by providing audio communication monitoring services such as audio quality analysis, audio loudness enhancer, audio metering and monitoring, call recording.The market value includes the value of related goods sold by the service provider or included within the service offering.

The audio communication monitoring market also includes sales of computers, computer peripherals and telecommunications equipment which are used in providing audio communication monitoring services.Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers.

The value of goods in this market includes related services sold by the creators of the goods.

The audio communication monitoring are used to analyze audio conversations and recordings.Audio communication monitoring records the sounds from the surroundings.

It involves audio monitoring that allows ARC (Audio Return Channel) to listen to the sounds by using an intruder detector. Audio communication monitoring is used in alarm verification, deterrence, and prevention and also improves operations by enhancing the employee–to–customer and employee-to-employee communications and also used to conduct efficient communication in day-to-day business activities.

North America was the largest region in the audio communication monitoring market in 2022.Asia-Pacific is expected to be the fastest growing region in the forecast period.

The regions covered in the audio communication monitoring market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

The main types of audio communication monitoring are wired communication and wireless communication.The wired audio communication monitoring is used to transfer the data at high speed.

Wired communications are used to provide higher protection from attacks and transfer the data by using wired-based technology.The different organization sizes include large enterprises, and small and medium-sized enterprises and involve various components such as solutions, and services.

It is deployed in the cloud, and on-premises and used by several sectors such as BFSI, media and entertainment, retail and e-commerce, telecom and it, government, healthcare, and life sciences, others (travel and hospitality, education, and transportation and logistics).

An increase in risk for telemarketing fraud, cybercrimes, and system hacking is expected to propel the growth of the audio communication monitoring market going forward.Telemarketing fraud involves spam emails, spam calls, and spam messages, and similarly, cybercrimes and system hacking are occurred because of data breaches.

Cybercrime operations include employing network-connected equipment, such as webcams or closed-circuit television (CCTV) cameras as well as audio monitoring communications, such as calls, emails, text messages, and instant chats, to spy on a targeted individual or group.For instance, in 2020, Cloud4C Services, a US-based operating in cloud managed services for public and private organizations, around 70% of organizations experienced at least one security incident while using public cloud platforms to host data in the year 2020.

Additionally, for instance, in March 2021, Department for Digital, Culture, Media & Sport, Cyber Security Breaches Survey 2021, a UK-based official agency for Digital, Culture, Media, and Sports, four in ten businesses (39%) organizations have reported cyber security breaches or attacks in the last 12 months. Therefore, an increase in risk for telemarketing fraud, cybercrimes, and system hacking is driving the growth of the audio communications market.

The growing use of artificial intelligence (AI) and NLP (NLP) technologies is a key trend gaining popularity in the audio communication monitoring market.NLP is one of the branches of AI that make the machine understand the language of humans.

Many companies operating in the audio communication monitoring sector are launching innovative technologies related to AI to meet consumer demand.For example, in July 2021, Tata Communications, an India-based telecommunications company launched the 'IZO Financial Cloud' platform.

This platform enables open banking, provides digital services and strengthens customer trust by providing security through a cloud model involving artificial intelligence, blockchain, and machine learning.

In May 2020, Cisco, a US-based technology acquired ThousandEyes for a deal amount of $1 billion.With this acquisition, Cisco plans to integrate ThousandEyes into its networking services business segment and enhance its cloud-based software offering.

ThousandEyes is a US-based network intelligence company that offers audio communication monitoring.

The countries covered in the audio communication monitoring market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

The audio communication monitoring market research report is one of a series of new reports that provides audio communication monitoring market statistics, including audio communication monitoring industry global market size, regional shares, competitors with a audio communication monitoring market share, detailed audio communication monitoring market segments, market trends and opportunities, and any further data you may need to thrive in the audio communication monitoring industry. This audio communication monitoring market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

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