Day: June 18, 2021

It is displayed on electronic displays in various formats. It includes digital billboards, digital signages, screen technologies, light emitting diodes (LEDs), and out of home (OOH) displays. It allows advertisers to remotely change the content with the help of mobile phones, touchscreens, near field communication (NFC), and other digital channels. Depending on end user, the digital out of home market is categorized into healthcare, retail, hospitality, banking, financial services, and insurance (BFSI), entertainment, transportation, and education sectors.

Out of these, the healthcare category is predicted to dominate the market in the forthcoming years. This is credited to the fact that digital out of home advertising is increasingly being used in various healthcare applications, mainly in the form of digital signs to promote medical group practices or individual physicians, spotlighting hospital specialties, and patient and visitor way finding.

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Geographically, North America held the largest share in the digital out of home market in 2019. Moreover, this trend will continue in the upcoming years, as per the estimates of the market research firm, P&S Intelligence. This is ascribed to the rising public awareness about the various benefits of commercial displays and the rapid technological advancements being made in the region.

The market is also expected to exhibit the fastest growth in APAC in the coming years, primarily because of the rapid developments in various industries such as communication, transportation, and construction in the region. Hence, it is clear that the demand for digital out of home advertising will boom in the years to come, mainly because of the rising requirement for digital advertising platforms and channels and the greater convenience and higher public reach offered by this advertising method in comparison to the traditional one. 

This market research report provides a comprehensive overview of the market

• Future potential of the market through its forecast for the period 2020– 2030
• Major factors driving the market and their impact during the short, medium, and long terms
• Market restraints and their impact during the short, medium, and long terms
• Recent trends and evolving opportunities for the market participants
• Historical and the present size of the market segments and understand their comparative future potential
• Potential of on-demand logistics services, so the market players make informed decisions on the sales of their offerings

The increasing focus of enterprises on customer satisfaction has resulted in the large-scale adoption of speech analytics solutions in these organizations. In recent times, it has become essential for businesses to provide exceptional customer service for improving their customer retention rates and expanding their customer base, as customers can choose from an ocean of brands nowadays. , .

Moreover,customers, these days, are more likely to buy products from companies that offer better quick and better solutions to product or price-related problems. Additionally, the surging requirement for adherence to compliance regulations is expected to drive the speech analytics market at a CAGR of 19.9% during the forecast period (2019–2024). According to P&S Intelligence, the market revenue stood at $1,010.4 million in 2018, and it is expected to reach $2,910.1 million by 2024.

At present, compliance rules are constantly evolving to protect customer rights, owing to which, organizations need to stay updated with regulations such as the Fair Credit Reporting Act (FCRA) and the Telephone Consumer Protection Act (TCPA). Moreover, the escalating preference for phonetic indexing is also fueling the adoption of speech analytics solutions in business operations. As compared to the conventional transcription technique, the phonetic indexing method is easier to implement and manage.

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Additionally, the latter is quicker than the former because it does not scan umpteen dictionary words. Speech analytics solutions based on phonetics convert audio conversations into a thread of phenomes and then choose only a predefined list of words. This allows the system to evaluate a greater volume of calls and achieve business insights quickly with the same number of servers. 

This market research report provides a comprehensive overview of the market

• Future potential of the market through its forecast for the period 2020– 2030
• Major factors driving the market and their impact during the short, medium, and long terms
• Market restraints and their impact during the short, medium, and long terms
• Recent trends and evolving opportunities for the market participants
• Historical and the present size of the market segments and understand their comparative future potential
• Potential of on-demand logistics services, so the market players make informed decisions on the sales of their offerings