Report Feature
The future of the interactive voice response market looks promising with opportunities in the BFSI, travel & hospitality, pharma & healthcare, telecommunication, government, transportation & logistics, media, retail & E-commerce, and education industries. The global interactive voice response market is expected to grow with a CAGR of 6% to 8% from 2021 to 2026. The major drivers for this market are increasing demand for cloud-based technologies, increased security concerns, and increasing integration of advanced technologies.
A more than 150 page report is developed to help in your business decisions. Sample figures with some insights are shown below. To learn the scope of, benefits, companies researched and other details of interactive voice response market report download the report brochure.
The study includes trends and forecast for the global interactive voice response market by service, organization size, deployment mode, technology, solution, end use industry, and region as follows:
By Technology [$M shipment analysis for 2015 – 2026]:
- Speech Based
- Touch-tone Based
By Organization Size [$M shipment analysis for 2015 – 2026]:
- Small and Medium Enterprise (SME)
- Large Enterprise
By Service [$M shipment analysis for 2015 – 2026]:
- Installation
- Training & Education
- Maintenance & Support
By Deployment Mode [$M shipment analysis for 2015 – 2026]:
- Cloud
- On Premise
By Solution [$M shipment analysis for 2015 – 2026]:
- Call Routing
- Outbound
- Self-Service
By End Use Industry [$M shipment analysis for 2015 – 2026]:
- BFSI
- Travel and Hospitality
- Pharma and Healthcare
- Telecommunications
- Government and Public Sector
- Transportation and Logistics
- ITES
- Media, Retail, and E-commerce
- Education
- Others
By Region [$M shipment analysis for 2015 – 2026]:
- North America
- United States
- Canada
- Mexico
- Europe
- Germany
- United Kingdom
- France
- Italy
- Asia Pacific
- China
- Japan
- India
- South Korea
- The Rest of the World
Speech-based will remain the largest segment due to rising demand of natural language processing (NLP) technology that helps in reducing the amount of time spent by an individual and increasing demand in telecommunication, e-commerce, BFSI, and other industries.
BFSI will remain the largest end use industry during the forecast period due to the rising number of calls and the need of higher scalability and efficiency in organizations.
North America will remain the largest region during the forecast period due to growing adoption of advanced technologies such as artificial intelligence (AI), natural language processing (AI) in the U.S. and demand for enhanced customer service and a higher level of customer interaction.
Some of the interactive voice response companies profiled in this report include Nuance Communications, Inc., Avaya Inc., Verizon Communications Inc., 24/7 Customer, Inc., Genesys Telecommunication Laboratories, Inc., West Corporation, AT&T Inc., Cisco Systems, Inc., Aspect Software Parent Inc., New Voice Media, IVR Lab, 8X8, Inc, Nec Corporation, Centurylink.
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Features of Interactive Voice Response Market |
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This report answers following 11 key questions |
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Q.1 What are some of the most promising potential, high-growth opportunities for the global interactive voice response market by technology (speech based and touch-tone based), deployment mode (cloud and on premise), organization size (small and medium (SME) and large enterprise), services (installation, training & education, and maintenance & support), solution (call routing, outbound, self-service), end use industry (BFSI, travel & hospitality, pharma & healthcare, telecommunication, government, transportation & logistics, media, retail & E-commerce, education, and other), and region (North America, Europe, Asia Pacific, and the Rest of the World)? Q.2 Which segments will grow at a faster pace and why? Q.3 Which regions will grow at a faster pace and why? Q.4 What are the key factors affecting market dynamics? What are the drivers and challenges of the interactive voice response market? Q.5 What are the business risks and threats to the interactive voice response market? Q.6 What are emerging trends in the interactive voice response market and the reasons behind them? Q.7 What are some changing demands of customers in the interactive voice response market? Q.8 What are the new developments in the interactive voice response market? Which companies are leading these developments? Q.9 Who are the major players in the interactive voice response market? What strategic initiatives are being implemented by key players for business growth? Q.10 What are some of the competitive products and processes in the interactive voice response market, and how big of a threat do they pose for loss of market share via material or product substitution? Q.11 What M&A activities did take place in the last five years in the interactive voice response market? |
Methodology
Lucintel has been in the business of market research and management consulting since 2000 and has published over 1000 market intelligence reports in various markets / applications and served over 1,000 clients worldwide. This study is a culmination of four months of full-time effort performed by Lucintel's analyst team. The analysts used the following sources for the creation and completion of this valuable report:
- In-depth interviews of the major players in this market
- Detailed secondary research from competitors’ financial statements and published data
- Extensive searches of published works, market, and database information pertaining to industry news, company press releases, and customer intentions
- A compilation of the experiences, judgments, and insights of Lucintel’s professionals, who have analyzed and tracked this market over the years.
Extensive research and interviews are conducted across the supply chain of this market to estimate market share, market size, trends, drivers, challenges, and forecasts. Below is a brief summary of the primary interviews that were conducted by job function for this report.
Thus, Lucintel compiles vast amounts of data from numerous sources, validates the integrity of that data, and performs a comprehensive analysis. Lucintel then organizes the data, its findings, and insights into a concise report designed to support the strategic decision-making process. The figure below is a graphical representation of Lucintel’s research process.
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