+353-1-416-8900REST OF WORLD
+44-20-3973-8888REST OF WORLD
1-917-300-0470EAST COAST U.S
1-800-526-8630U.S. (TOLL FREE)

Interactive Voice Response (IVR) Systems - Global Strategic Business Report

  • PDF Icon

    Report

  • 593 Pages
  • March 2024
  • Region: Global
  • Global Industry Analysts, Inc
  • ID: 338501

Global Interactive Voice Response (IVR) Systems Market to Reach $9.2 Billion by 2030

The global market for Interactive Voice Response (IVR) Systems estimated at US$5.3 Billion in the year 2023, is projected to reach a revised size of US$9.2 Billion by 2030, growing at a CAGR of 7.3% over the analysis period 2023-2030.

Touchtone-based IVR Systems, one of the segments analyzed in the report, is projected to record 6.9% CAGR and reach US$5.3 Billion by the end of the analysis period. Growth in the Speech-based IVR Systems segment is estimated at 7.9% CAGR for the next 8-year period.

The U.S. Market is Estimated at $1.6 Billion, While China is Forecast to Grow at 8.4% CAGR

The Interactive Voice Response (IVR) Systems market in the U.S. is estimated at US$1.6 Billion in the year 2023. 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 8.4% over the analysis period 2023 to 2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 6.3% and 6.6% respectively over the 2023-2030 period. Within Europe, Germany is forecast to grow at approximately 7.3% CAGR.

Exciting New Report Features

  • Full access to influencer engagement stats
  • Free access to digital archives & research platform. The proprietary platform is fully enabled to unlock creativity and market knowledge of domain experts worldwide in a cohesive and collaborative manner. The state-of-art tools bring world class market perspectives while protecting participants` privacy and identity. Numbers, statistics and market narrative in the report are based on fully curated insights shared by domain experts and influencers in this space.
  • Opportunity to engage with interactive questionnaires that come with real-time data simulator tools & bespoke report generation capabilities
  • Full client access to peer collaborative and interactive platform for cross-enterprise smart exchange of ideas
  • Complimentary report updates for one year
  • Competitor coverage with global market shares of major players
  • Player market presence analysis (Strong/Active/Niche/Trivial) across multiple geographies
  • Access to curated YouTube video transcripts of domain experts/influencer interviews, podcasts, press statements and event keynotes

What to Expect from the Global Economy in 2024

Edgy geopolitics, and economic instability caused by monetary policy tightening and ensuing higher interest rates will create a tumultuous landscape for 2024. Several factors will continue to exert pressure on the path to recovery including hostilities in the Middle East and increasingly common climate disasters. Among the risks, several positives are also taking shape such as growing signs of disinflation and easing of anxiety over stubborn inflation, supply chain normalization and price moderation despite volatility in energy costs. Elections across several G21 jurisdictions, notably in India and the United States, will have potential ramifications for capital flows and investment strategies. While India emerges as a compelling destination in the global investment landscape, U.S, based tech firms will continue to dominate, fueled by a dynamic ecosystem of talent and capital. Tech opportunities in Silicon Valley and beyond remain attractive for investors seeking high-growth prospects supported largely by a resilient albeit slowing domestic economy and conducive regulatory environment. Europe will continue to battle tight monetary policy and recession risks with U.K. having the most challenging outlook and running the greatest risk of recession in 2024. China remains a wild card with hope for growth in the country underpinned by government spending and improvements in consumer spending. The volatile environment will offer both opportunities and challenges for investors and businesses alike. Embracing volatility as a catalyst for growth together with agility and strategic foresight in navigating investment decisions will remain important for survival.

Select Competitors (Total 98 Featured)

  • AT&T, Inc.
  • Agnity Global, Inc.
  • Bay Talkitec
  • Ameyo (Drishti Soft Solutions Pvt. Ltd.)
  • [24]7.ai, Inc.
  • Bitrix, Inc.
  • Handygo Technologies Pvt., Ltd.
  • Callfire, Inc.
  • Exotel Techcom Pvt., Ltd.
  • Arise Virtual Solutions Inc.
  • IVR Lab
  • DENWA HOUSOUKYOKU
  • Evamp & Saanga
  • 8x8
  • Istonish, Inc.

Table of Contents

I. METHODOLOGYII. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
  • 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 (2024 & 2030): Percentage Breakdown of Revenues for Touchtone-Based, and Speech-Based
  • Analysis by End-Use
  • World Interactive Voice Response (IVR) Systems Market by End-Use (2024 & 2030): 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 (2024 & 2030)
  • World Interactive Voice Response (IVR) Systems Market - Geographic Regions Ranked by CAGR (Value) for 2023-2030: 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 2023 (E)
  • Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2023 (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
  • 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
  • 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
  • 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
  • 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
  • Table 1: World Recent Past, Current & Future Analysis for Interactive Voice Response (IVR) Systems by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Revenues in US$ Thousand for Years 2023 through 2030 and % CAGR
  • Table 2: World Historic Review for Interactive Voice Response (IVR) Systems by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Revenues in US$ Thousand for Years 2014 through 2022 and % CAGR
  • Table 3: World 16-Year Perspective for Interactive Voice Response (IVR) Systems by Geographic Region - Percentage Breakdown of Value Revenues for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets for Years 2014, 2024 & 2030
  • Table 4: World Recent Past, Current & Future Analysis for Touchtone-based by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Revenues in US$ Thousand for Years 2023 through 2030 and % CAGR
  • Table 5: World Historic Review for Touchtone-based by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Revenues in US$ Thousand for Years 2014 through 2022 and % CAGR
  • Table 6: World 16-Year Perspective for Touchtone-based by Geographic Region - Percentage Breakdown of Value Revenues for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2014, 2024 & 2030
  • Table 7: World Recent Past, Current & Future Analysis for Speech-based by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Revenues in US$ Thousand for Years 2023 through 2030 and % CAGR
  • Table 8: World Historic Review for Speech-based by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Revenues in US$ Thousand for Years 2014 through 2022 and % CAGR
  • Table 9: World 16-Year Perspective for Speech-based by Geographic Region - Percentage Breakdown of Value Revenues for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2014, 2024 & 2030
  • Table 10: World Recent Past, Current & Future Analysis for BFSI by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Revenues in US$ Thousand for Years 2023 through 2030 and % CAGR
  • Table 11: World Historic Review for BFSI by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Revenues in US$ Thousand for Years 2014 through 2022 and % CAGR
  • Table 12: World 16-Year Perspective for BFSI by Geographic Region - Percentage Breakdown of Value Revenues for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2014, 2024 & 2030
  • Table 13: World Recent Past, Current & Future Analysis for Travel & Hospitality by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Revenues in US$ Thousand for Years 2023 through 2030 and % CAGR
  • Table 14: World Historic Review for Travel & Hospitality by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Revenues in US$ Thousand for Years 2014 through 2022 and % CAGR
  • Table 15: World 16-Year Perspective for Travel & Hospitality by Geographic Region - Percentage Breakdown of Value Revenues for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2014, 2024 & 2030
  • Table 16: World Recent Past, Current & Future Analysis for Pharma & Healthcare by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Revenues in US$ Thousand for Years 2023 through 2030 and % CAGR
  • Table 17: World Historic Review for Pharma & Healthcare by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Revenues in US$ Thousand for Years 2014 through 2022 and % CAGR
  • Table 18: World 16-Year Perspective for Pharma & Healthcare by Geographic Region - Percentage Breakdown of Value Revenues for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2014, 2024 & 2030
  • Table 19: World Recent Past, Current & Future Analysis for Telecommunication & ITES by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Revenues in US$ Thousand for Years 2023 through 2030 and % CAGR
  • Table 20: World Historic Review for Telecommunication & ITES by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Revenues in US$ Thousand for Years 2014 through 2022 and % CAGR
  • Table 21: World 16-Year Perspective for Telecommunication & ITES by Geographic Region - Percentage Breakdown of Value Revenues for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2014, 2024 & 2030
  • Table 22: World Recent Past, Current & Future Analysis for Retail & eCommerce by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Revenues in US$ Thousand for Years 2023 through 2030 and % CAGR
  • Table 23: World Historic Review for Retail & eCommerce by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Revenues in US$ Thousand for Years 2014 through 2022 and % CAGR
  • Table 24: World 16-Year Perspective for Retail & eCommerce by Geographic Region - Percentage Breakdown of Value Revenues for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2014, 2024 & 2030
  • Table 25: World Recent Past, Current & Future Analysis for Other End-Uses by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Revenues in US$ Thousand for Years 2023 through 2030 and % CAGR
  • Table 26: World Historic Review for Other End-Uses by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Revenues in US$ Thousand for Years 2014 through 2022 and % CAGR
  • Table 27: World 16-Year Perspective for Other End-Uses by Geographic Region - Percentage Breakdown of Value Revenues for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2014, 2024 & 2030
  • Table 28: World Interactive Voice Response (IVR) Systems Market Analysis of Annual Sales in US$ Thousand for Years 2014 through 2030
III. MARKET ANALYSIS
UNITED STATES
  • Interactive Voice Response (IVR) Systems Market Presence - Strong/Active/Niche/Trivial - Key Competitors in the United States for 2024 (E)
CANADA
JAPAN
  • Interactive Voice Response (IVR) Systems Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Japan for 2024 (E)
CHINA
  • Interactive Voice Response (IVR) Systems Market Presence - Strong/Active/Niche/Trivial - Key Competitors in China for 2024 (E)
EUROPE
  • Interactive Voice Response (IVR) Systems Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Europe for 2024 (E)
FRANCEGERMANYITALYUNITED KINGDOMSPAINRUSSIAREST OF EUROPE
ASIA-PACIFIC
  • Interactive Voice Response (IVR) Systems Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Asia-Pacific for 2024 (E)
AUSTRALIA
INDIA
  • Impact of COVID-19 on IVR Systems Market
  • Robust Growth of Domestic Call Center Market: Opportunity for IVR Systems
SOUTH KOREAREST OF ASIA-PACIFIC
LATIN AMERICA
  • Interactive Voice Response (IVR) Systems Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Latin America for 2024 (E)
ARGENTINABRAZILMEXICOREST OF LATIN AMERICA
MIDDLE EAST
  • Interactive Voice Response (IVR) Systems Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Middle East for 2024 (E)
IRANISRAELSAUDI ARABIAUNITED ARAB EMIRATESREST OF MIDDLE EAST
AFRICA
  • Interactive Voice Response (IVR) Systems Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Africa for 2024 (E)
IV. COMPETITION

Companies Mentioned (Partial List)

A selection of companies mentioned in this report includes, but is not limited to:

  • AT&T, Inc.
  • Agnity Global, Inc.
  • Bay Talkitec
  • Ameyo (Drishti Soft Solutions Pvt. Ltd.)
  • [24]7.ai, Inc.
  • Bitrix, Inc.
  • Handygo Technologies Pvt., Ltd.
  • Callfire, Inc.
  • Exotel Techcom Pvt., Ltd.
  • Arise Virtual Solutions Inc.
  • IVR Lab
  • DENWA HOUSOUKYOKU
  • Evamp & Saanga
  • 8x8
  • Istonish, Inc.

Table Information