The voice analytics market by component covers solutions and services. The solution segment outperforms the services segment and would see growth in the future, due to higher adoption of solutions. The voice analytics solution empowers users to analyze recordings of conversations to identify the emotions and intent of the speakers. It analyzes the audio patterns for certain features, such as tone, stress, tempo, pitch, and rhythm. It helps enhance customer satisfaction and competitive intelligence, reduce customer churn by predicting at-risk customers, and identify risks and frauds. Consulting services mainly steer around the critical issues and opportunities related to strategies, marketing, operations, technologies, mergers and acquisitions, and finance, leading to increased effectiveness, improved performance, reduced costs, and enhanced resilience. Consulting services are required by retail stores, retail planners, and merchandisers for enhanced strategic outlook, improved performance efficiencies, and transformed business operations of retail-related activities into more efficient and cost-effective operations.