A provider of various technology solutions used in call centers was looking to expand the reach of its speech analytics product beyond its current use

The client retained 2nd St Strategy to understand the potential product-market-fit of the solution to various call center market sub-segments

Assessment required an understanding of potential size of key segments, their adoption of speech analytics solutions, and development of a go-to-market approach for the solution based on market feedback

Conducted voice-of-the market interviews with decision makers across various target market segments

Build an adoption curve for speech analytics solutions across various market sub-segments, based on user needs and current technology capabilities

Built a comprehensive competitive landscape of the solutions in the market

Defined the decision-making criteria utilized in selection of the tool and evaluated various competitors’ ability to meet the selection criteria

In 2021, there were 16 million call center agents globally, with a speech analytics adoption rate of ~50%

There is significant variance in solution adoption across different call center types and use cases, e.g., collections has the highest 70% adoption rate for its compliance use case, and sales has the lowest 20% adoption rate for agent performance management

The market is rapidly growing, and the Client’s solution has a strong product-market fit for several segments that can be capitalized on