The global audio communication monitoring market is predicted to be valued at US$ 2,070.2 million in 2023 and to grow at a CAGR of 16.6% to US$ 9,643.7 million by 2033. Businesses are gradually realizing the need of being capable of centrally tracking and upkeep audio monitoring capability as audio communication technology becomes increasingly integrated with network administration and IT infrastructure.
Audio communication monitoring systems analyze conversations, detect patterns in connections, and offer clients insights. Audio communication technology is used to extract critical business intelligence data and connect it to the company’s strategy in order to make tactical choices.
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The call recording capability is key to most audio communication monitoring solutions. The audio communication monitoring system market includes recording, processing, and evaluation. Companies are also requiring audio communication monitoring in response to the implementation of stronger governance, risk, and compliance structures that they must follow.
The growing demand for real-time analytics from call logs and communication data, as well as the conversion of such data into appropriate forms across the business, is propelling the audio communication monitoring system market forward. Furthermore, these solutions reduce the costs of initial acquisition and maintenance, leading to higher demand from SMBs, which is supporting the global market’s growth.
Responding to live calls takes time and requires additional time for surveillance and administration; thus, the growing usage of communications monitors in network management programs is another important factor impacting the market’s development.
Key Takeaways
- The market grew at a 14.5% CAGR during the last five years.
- In 2022, North America held a 28.1% market share.
- In 2022, the United States held an 18.2% market share.
- The Chinese market is expected to develop at a CAGR of 18.8%.
- In 2022, the Media and Entertainment segment held 18.2% of the market.
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Competitive Landscape
- OWS2 was launched by Oladance in 2023. Their wearable stereos produce synthetic sounds by merging many audio source locations, constant surveillance, and calculation. The meticulous design of OWS ensures that there is no harm to hearing or ear health while providing a superb musical journey with amazing ease and flare.
- Honeywell revealed in June 2023 that it has partnered with a group of significant industry stakeholders to provide first responders with more detailed contextual data about commercial fire events. This team will provide emergency workers with the capacity to acquire critical event locations and contact information by transferring information obtained from the construction’s fire communicator radio or a surveillance station.
Key Players
- AudioCodes Ltd.
- Behavox Ltd.
- Avaya Inc.
- Cisco Systems, Inc.
- Enghouse Interactive Inc.
- NICE Systems Ltd.
- Nuance Communication, Inc.
- Tata Communications Ltd.
- Intelligent Voice
- Nectar Services Corporation
More Valuable Insights Available
Future Market Insights, in its new offering, presents an unbiased analysis of the global audio communication monitoring market presenting a historical analysis from 2018 to 2022 and forecast statistics between 2023 and 2033.
The study reveals essential insights by component (solutions and services), industry (banking, financial services, and insurance, government, telecommunication & it, media & entertainment, healthcare, and others), enterprise type (small & medium enterprises, large enterprises), and application (law enforcement agencies, enterprise employee monitoring, broadcast monitoring, sales and internal communication monitoring and others) across seven major regions (North America, Latin America, Western Europe, Eastern Europe, South Asia & Pacific, East Asia, and Middle East & Africa).
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Key Segments of Audio Communication Monitoring Industry Survey
Component:
- Solutions
- Quality Analysis
- Audio Loudness
- Metering & Monitoring
- Call Recording
- Others
- Services
- Maintenance and Support Services
- Professional Services
Industry:
- Banking, Financial Services, and Insurance
- Government
- Telecommunication & IT
- Media & Entertainment
- Healthcare
- Others
Enterprise Type:
- Small & Medium Enterprises
- Large Enterprises
Application:
- Law Enforcement Agencies
- Enterprise Employee Monitoring
- Broadcast Monitoring
- Sales and Internal Communication Monitoring
- Others
Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- South Asia & Pacific
- East Asia
- Middle East & Africa
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Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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