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The growing need for risk and compliance management, and increasing importance of call monitoring are some of the factors, driving the growth of the global audio communication monitoring market. The time consuming task of listening to live calls demands more time for supervision and management, which is another factor influencing the growth of the global audio communication monitoring market. As the number of organizations is growing every day, the need for audio control monitoring is also increasing.
Audio communication is any form of communication that is based on hearing. With communications technology becoming progressively integrated with IT and network infrastructure, more businesses are realizing the importance to centrally monitor and maintain their business capability. Every organization involves the need for monitoring to increase their efficiency and effectiveness in work culture. The monitoring operability issue of customers is possible through audio communication technique. Audio communication has become very easy by the use of internet. Audio communication monitoring helps the organizations to analyze and monitor the content of communication more effectively. It also helps the organization to provide better user experience, thereby enhancing the overall productivity of the enterprises. Audio communication monitoring solutions, in form of media monitoring, alarm surveillance monitoring, voice biometric solutions and global system for mobile communication monitoring, have allowed the organizations to constantly track the caller and monetize the audio content to gain valuable insights.
Moreover, the high adoption rate of audio communication monitoring in small and medium sized businesses is an opportunity, which is expected to drive the growth of the global audio communication monitoring market. The increasing demand for real-time call monitoring and security has led to the increasing adoption of the audio communication monitoring solution by small and medium businesses (SMBs) and enterprises around the world. As real-time understandings create value for businesses, audio communication monitoring helps administrations in cutting unnecessary expenses, generating more revenue by creating new opportunities and increasing operational efficiency.
The law enforcement agencies have many devices for audio surveillance of criminals, such as cell phones, handsets, microphones and RF terminals. Multichannel monitoring involves audio communication monitoring portfolio to continuously deliver features, such as loudness logging, dolby decoding and touchscreens, as well as addressing the requirements of various other timecodes.
Call monitoring in several organizations is outsourced to business process outsourcing companies (BPO), which they carry out through the audio communication monitoring system. The increasing number of BPO companies is another major factor, which is driving the growth of the global audio communication monitoring market.
However, the lack of awareness among users regarding audio communication monitoring is a major factor, which is obstructing the growth of the global audio communication monitoring market. The users are not aware about the different existing audio communication monitoring services, which include complaint redressal services related to device of any particular company or brand.
Fonetic Solutions, Behavox Ltd., NUGEN Audio, Cisco Systems Inc., Nectar Services Corp., International Business Machines S.A (IBM) are some of the competitors in the global audio communication monitoring market.
The global audio communication monitoring market can be segmented on the basis of: