Conversation Intelligence Software Market Expected to Expand at a Steady 2022-2030

Lakewood, Colorado, 2023-Mar 24— /EPR Network/According to the Regional Research Reports, the global Conversation Intelligence Software market size was valued at USD 20.1 billion in 2021 and is estimated to reach over USD 40 billion by 2030 at a CAGR of 8.02% over the forecast period (2022-2030).

 Conversation Intelligence Software Market Definition

Conversation intelligence (CI) software records, transcribes and analyzes sales calls. Through analyzing sales calls, CI software can identify keywords and topics of conversation so users can quickly jump to those points in the recorded sales calls and further analyze valuable insights. CI software can be used by businesses to take notes on key conversations with potential buyers, identify risky or noncompliant topics of conversation, coach new sales representatives on best practices, and any other use cases that can be used from the analysis and transcription of sales calls.

Sales coaching software is a related software that generally offers conversation intelligence capabilities but focuses less on analyzing the transcription and text of a call and more on the sales representative’s language, cadence, and technique. Additionally, sales coaching software provides different features for sales representatives to easily view and organize sales deals that are in the pipeline.

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Conversation Intelligence Software Market Pricing

The Conversation Intelligence Software pricing ranges from USD 30 to USD 100 per year. The pricing depends on the features and specifications integrated into the software. The main features of the software include emotional intelligence, conversational ability, broad knowledge base, personal, and personality.

Conversation Intelligence Software Market Scope

The research study provides an in-depth analysis of the Conversation Intelligence Software market, current market trends, and future estimations to elucidate the imminent investment pockets. Information about key drivers, restraints, and opportunities and their impact on market size is provided. Porter’s five forces analysis illuminates the potency of suppliers and buyers operating in the market. The quantitative analysis of the Conversation Intelligence Software market from 2022 to 2030 is provided to determine the market potential.

This report also contains the market size, untapped opportunity index, and forecasts of Conversation Intelligence Software in the global market, including the following market information:

• Global Conversation Intelligence Software Market Revenue, 2018-2021, 2022-2030, (USD Millions)
• Global Conversation Intelligence Software Market Sales, 2018-2021, 2022-2030, (Units)
• Global top five Conversation Intelligence Software companies in 2021 (%)

Regional Research Reports has surveyed the Conversation Intelligence Software manufacturers, suppliers, distributors, and industry experts in this end-use industry, involving the consumption, production, revenue generators, demand-side, supply-side, price change, product type analysis, recent development and strategies, industry trends, drivers, challenges, obstacles, and potential risks.

Conversation Intelligence Software Market Segmentation

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Global Conversation Intelligence Software Market, By Deployment Model, 2018-2021, 2022-2030 (USD Millions)

Global Conversation Intelligence Software Market Segment Percentages, By Deployment Model, 2021 (%)

• On-Premise
• Cloud
• Hybrid

Global Conversation Intelligence Software Market, By Component, 2018-2021, 2022-2030 (USD Millions)

Global Conversation Intelligence Software Market Segment Percentages, By Component, 2021 (%)

• Solution
• Services

Global Conversation Intelligence Software Market, By End User, 2018-2021, 2022-2030 (USD Millions)

Global Conversation Intelligence Software Market Segment Percentages, By End User, 2021 (%)

• Small Business
• Mid Market
• Enterprise

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Global Conversation Intelligence Software Market, By Industry, 2018-2021, 2022-2030 (USD Millions)

Global Conversation Intelligence Software Market Segment Percentages, By Industry, 2021 (%)

• BFSI
• Healthcare
• Energy & Utility
• IT & Telecommunication
• Retail & E-commerce
• Manufacturing
• Government & Defense
• Media & Entertainment
• Others

Global Conversation Intelligence Software Market, By Region and Country, 2018-2021, 2022-2030 (USD Millions)

Global Conversation Intelligence Software Market Segment Percentages, By Region and Country, 2021 (%)

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • France
  • The U.K.
  • Italy
  • Russia
  • Nordic Countries
  • Benelux
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • South Korea
  • Southeast Asia
  • India
  • Rest of Asia
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Middle East & Africa
  • Turkey
  • Israel
  • Saudi Arabia
  • UAE
  • Rest of the Middle East & Africa

Challenges to Conversation Intelligence Software Market

The software can come with its own set of challenges. Conversation Intelligence s, which is changing many industries and use cases (such as customer support and e-commerce), has some key issues one should keep in mind. Preference for human agents: Although  Conversation Intelligences are great at many tasks, some contexts, such as those which require a significant amount of empathy, may be better served by a human agent. Handoffs to humans: There might come a time when Conversation Intelligence does not have an answer to a question from the user. The system must be designed in a way to resolve this problem successfully. Typically, the best way to solve this is to transition the user to a human agent.

Global Conversation Intelligence Software Market Trend

In addition, artificial intelligence techniques such as NLP software help make Conversation Intelligence solutions easier to use and more powerful, providing more accurate results. Below are the trends relevant to this software.

Conversational interfaces

In general, users are looking to conversational interfaces to get answers to their burning questions. For example, they are looking to query their data in a more natural way. Since natural language understanding has improved, people can talk to their data, finding and exploring insights using natural, intuitive language. With this powerful technology, users can focus on discovering patterns and finding meaning hidden in the data as opposed to memorizing SQL queries.

Data-focused businesspeople, like data analysts, can benefit from conversational interfaces like   Conversation Intelligence s. Users can uncover the material they are looking for using intuitive language. Intuitive methods of querying data mean a larger user base that can access and make sense of company data.

Voice

Voice is a primal method of interacting with others. It is only natural that we now converse with our machines using our voice and that the platforms for said voicebots have seen great success. Voice makes technology feel more human and allows people to trust it more. Voice will prove to be an important natural interface that mediates human communication and relationships with devices, and ultimately, within an AI-powered world.

Artificial intelligence

AI is quickly becoming a promising feature of many, if not most, types of software. With machine learning, end users can identify patterns in data, allowing them to make sense of content and help them understand what they are seeing. This pattern recognition is fueling the rise of more powerful, contextually-aware   Conversation Intelligence s.

Competitor Analysis of the Global Conversation Intelligence Software Market

Analysis on leading market companies and participants, including:

• Key companies Conversation Intelligence Software revenues in the global market, 2018-2021 (Estimated), (USD Millions)
• Key companies Conversation Intelligence Software revenues share in global market, 2021 (%)
• Key companies Conversation Intelligence Software sales in the global market, 2018-2021 (Estimated), (MT)
• Key companies Conversation Intelligence Software sales share in global market, 2021 (%)

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Further, the report deatiled out about the leading competitors in the market, namely:

• IBM
• Microsoft
• Google
• Gong
• Chorus.ai
• Hubspot Sales Hub
• Mindtickle
• Salesken
• Outreach
• Revenue.oi
• Balto
• Callrail
• Salesloft
• Allego
• Wingman
• Avoma
• Jiminny
• ExecVision
• Invoca
• Dialpad Sell
• Fathom
• Observe.AI
• InsightSquared
• Modjo

Why do you need to purchase this report?

• Get the clear understanding on the market’s current and future in both established and emerging markets.
• Complete information on the entry-level research study as the report consists of considerable information focusing on market size estimations, key players, development, and market trends.
• The report showcase deep-dive segmental market analysis of all key geography and countries around the globe.
• The most recent developments and news within the market and statistics on the market leaders along with their market share and techniques.
• Current, Historical, and forecasted market size from both value (USD million) and volume (units).
• 3-months of analyst support to understand the market objective, along with the market estimate sheet (in excel)

Key Questions Answered in This Report:

• What will the market forecast and the growth rate from 2022 to 2030?
• What are the key dynamics and trends of the market?
• What are the primary driving elements for the market growth?
• What are the obstacles developed to the market?
• Who are the leading companies with their market positioning share?
• How much can incremental dollar investment opportunities can be witnessed in the market during the forecast period?
• Analysis of the market players and the market anslysis through SWOT, PORTER’s, and PESTEL study.