3rd Party Remote Call Monitoring Feature
October 13, 2015
Call Monitoring Market Primed for Growth
By Rory J. Thompson, Web Editor
There’s good news for those involved in the call monitoring and analytics businesses. According to new research, that market is set grow substantially in the next five years.
The market research report, "Audio Communication Monitoring Market by Solution & Service -- Global Forecast to 2020", notes that the ‘audio communication monitoring solution market’ will grow from $795.4 million this year to a projected $2,145.3 million by 2020. That represents a compound annual growth rate (CAGR) of 21.9 percent during the forecast period.
“The major force driving this market is the risk and compliance management around the globe and across verticals. The increasing demand for real-time call monitoring and security has led to the increasing adoption of the audio communication monitoring solution by enterprises, and small and medium businesses (SMBs) around the world,” says report author MarketsandMarkets. “As real-time insights create value for businesses, audio-communication monitoring helps organizations in cutting preventable losses, generating more revenue by increasing operational efficiency, and creating new opportunities. These factors have resulted in an increasing demand.”
The report defines and segments this particular market into various sub-segments, with in-depth analysis and market size estimation. The study further identifies factors and opportunities driving the market as well as the challenges impacting it, along with a technology roadmap and adoption trends. The report also emphasizes key adoption trends and future opportunities.
It’s further noted that the leading companies in this arena are strengthening their grounds in the highly competitive market through new product development to build feature-rich solutions and attain better market visibility. Companies in this market are building up strategic partnerships to combine individual offerings into a multi-faceted solution suite for the expanding customer base.