DUBLIN, July 13, 2023 /PRNewswire/ — The “Interactive Voice Response (IVR) Systems: Global Strategic Business Report” report has been added to ResearchAndMarkets.com’s offering.
The global market for Interactive Voice Response (IVR) Systems estimated at US$4.9 Billion in the year 2022, is projected to reach a revised size of US$9.2 Billion by 2030, growing at a CAGR of 8.3% over the analysis period 2022-2030.
Touchtone-based, one of the segments analyzed in the report, is projected to record 7.8% CAGR and reach US$5.3 Billion by the end of the analysis period.
Taking into account the ongoing post pandemic recovery, growth in the Speech-based segment is readjusted to a revised 9% CAGR for the next 8-year period.
The U.S. Market is Estimated at $1.5 Billion, While China is Forecast to Grow at 9.7% CAGR
The Interactive Voice Response (IVR) Systems market in the U.S. is estimated at US$1.5 Billion in the year 2022. China, the world’s second largest economy, is forecast to reach a projected market size of US$1.6 Billion by the year 2030 trailing a CAGR of 9.7% over the analysis period 2022 to 2030.
Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 7.2% and 7.5% respectively over the 2022-2030 period. Within Europe, Germany is forecast to grow at approximately 8.4% CAGR.
Select Competitors (Total 98 Featured) –
- [24]7.ai, Inc.
- 8×8, Inc.
- Alvaria, Inc.
- Atos SE
- Avaya Inc.
- Cisco Systems, Inc.
- Five9, Inc.
- Genesys
- NICE inContact
- IVR Lab LLC
- NEC Corporation of America
- Nuance Communications, Inc.
- RingCentral, Inc.
- Verizon Communications Inc.
- Vonage Holdings Corp.
Key Topics Covered:
I. METHODOLOGY
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
- Impact of COVID-19 Pandemic and Looming Global Recession: 2020 Marked as a Year of Disruption & Transformation
- As the Race between the Virus & Vaccines Intensifies, Where is the World Economy Headed in 2021?
- World Economic Growth Projections (Real GDP, Annual % Change) for 2020 through 2022
- Impact of COVID-19 Pandemic on Call Centers
- With Telehealth Growing Amidst the COVID-19 Pandemic, IVR Systems Emerge as Critical Technology to Enable Services
- SMEs Increasingly Rely on Cloud Telephony amidst COVID-19 Pandemic
- Interactive Voice Response (IVR) Systems: An Introduction
- Features of Interactive Voice Response System
- Advantages of Interactive Voice Response Technology
- Types of IVR
- Various Use Cases of IVR
- Significance of IVR for Small Businesses
- Global Market Prospects & Outlook
- Growth Opportunities and Constraints for IVR Systems Market
- Analysis by Technology
- World Interactive Voice Response (IVR) Systems Market by Technology (2021 & 2027): Percentage Breakdown of Revenues for Touchtone-Based, and Speech-Based
- Analysis by End-Use
- World Interactive Voice Response (IVR) Systems Market by End-Use (2021 & 2027): Percentage Breakdown of Revenues for BFSI, Travel & Hospitality, Pharma & Healthcare, Telecommunication & ITES, Retail & Ecommerce, and Other End-Uses
- Regional Analysis
- World Interactive Voice Response (IVR) Systems Market by Region: Percentage Breakdown of Revenues for Developed and Developing Regions (2021 & 2027)
- World Interactive Voice Response (IVR) Systems Market – Geographic Regions Ranked by CAGR (Value) for 2020-2027: China, Asia-Pacific, Latin America, Africa, Middle East, Europe, USA, Canada, and Japan
- Competitive Scenario
- Select Popular IVR Systems
- Select IVR Service Providers
- Recent Market Activity
- Interactive Voice Response (IVR) Systems – Global Key Competitors Percentage Market Share in 2022 (E)
- Competitive Market Presence – Strong/Active/Niche/Trivial for Players Worldwide in 2022 (E)
2. FOCUS ON SELECT PLAYERS
3. MARKET TRENDS & DRIVERS
- A Review of Notable Trends in the IVR Market
- Growth of Call Centers Industry Presents Opportunities for IVR Systems Market
- Global Call Centers Market by Deployment (in %) for 2021
- Global Call Centers Market by End-Use (in %) for 2021
- Tracking Call Center Statistics
- Rise in Customer Calls in Call Centers & Need to Efficiency Address the Calls Gives Impetus to IVR Systems
- Pandemic Presents Challenging Environment
- Improvements in Operational Efficiency: Need of the Hour
- American Companies Revamping the Client-Service Operations
- Rising Integration of Advanced Technologies Boosts Growth in IVR Systems Market
- Incorporation of Advanced Technologies in the Contact Centers
- Rising Adoption of Artificial Intelligence in the Contact Centers
- Increased Adoption of Chatbots and Simpler Applications
- Ensuring Security and Privacy of Data at the Contact Centers
- Artificial Intelligence, Machine Learning & NLP Hold Tremendous Potential for IVR Systems
- NLP and NLU Critical IVR Technologies Bringing Change
- Rapid Rise in Cloud-based Services Fuel Need for IVR Systems
- Global Public Cloud Services: Percentage Market Share by Service Type for 2020 and 2022
- Demand for API based Sophisticated Flexible Systems on the Rise
- Growing Importance of IVRs in Increasing Efficiency and Scalability of Organizations
- Demand for IVR-based Outbound Services Continues to Grow
- Maximizing Contact Center’s Agent Resources with Integrated Inbound IVR Solutions
- IVR Holds Tremendous Role in Improving Customer service
- Speech Enabled IVR Becoming the Preferred User Interface
- Conversational IVR and Future Trends
- IVR Solutions Enhance Services in BFSI Industry
- IVR Systems in Banking
- Select IVR Applications in the Banking Sector
- Cloud Telephony Transforms BFSI Sector
- COVID-19: A Panic Button for Banks & Fintechs
- Global Volume of Non-Cash Transactions (In Billion) for the Years 2018, 2020 & 2022
- Growing Importance of IVR Systems in Pharmaceutical & Healthcare Industry
- Healthcare Call Center IVR Software for Seamless Patient Experience
- The New Normal in Retail Industry Post COVID-19 to Provide Boost to IVR Systems Market
- Global Department Stores Market Reset & Trajectory – Growth Outlook (In %) For Years 2019 Through 2025
- Robust Rise of e-Commerce & m-Commerce to Support Market Growth
- Global B2C E-Commerce Sales in US$ Trillion for the Years 2019 to 2025
- Retail M-Commerce Sales as % of Retail E-commerce Sales Worldwide for the Years 2016, 2018, 2020 & 2022
- Pandemic Fast Forwards eCommerce Growth
- Global B2C e-Commerce Market Reset & Trajectory – Growth Outlook (In %) For Years 2019 Through 2025
- Use of Omni-Channel IVR Systems Gain Momentum
- IVR Systems in Utilities
- Challenges Facing IVR Systems Market
4. GLOBAL MARKET PERSPECTIVE
III. MARKET ANALYSIS
IV. COMPETITION
For more information about this report visit https://www.researchandmarkets.com/r/vfawde
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