According to a new market report published by Lucintel, 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 7% 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.
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In this market, speech based and touch-tone based are the technology types of interactive voice response used in a wide range of industries. Lucintel forecasts that 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.
Within the interactive voice response market, 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.
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 are among the major interactive voice response manufacturers.
Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities in the global interactive voice response market by service, organization size, deployment mode, technology, solution, end use industry, and region. Lucintel has prepared a comprehensive research report titled “Growth Opportunities in the Global Interactive Voice Response Market 2021-2026: Trends, Forecast, and Opportunity Analysis.” This Lucintel report serves as a catalyst for growth strategy, as it provides comprehensive data and analysis on trends, key drivers, and directions. 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]:
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
This more than 150-page research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or visit us at helpdesk@lucintel.com.
About Lucintel
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