U.S. IVR (Interactive Voice Response) System Markets - Market Research Reports

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U.S. IVR (Interactive Voice Response) System Markets

Description:

This Frost & Sullivan research service entitled U.S. IVR Systems Market - Hope for Growth Through Speech provides an overview of current and forecasted revenue, current and forecasted shipment information and market share analysis of the IVR market, along with a complete analysis of key market drivers, restraints, and trends that are impacting the U.S. premise-based IVR market. In this research, Frost & Sullivan's expert analysts thoroughly examine the following markets/applications/technologies: Touchtone IVR markets, Speech-enabled IVR markets, Voice Portals, and Hosted IVR solutions.

Market Sectors

Frost & Sullivan’s expert analysts thoroughly examine the following sectors in this research:

- Touchtone IVR Markets

- Speech-enabled IVR Markets

- Voice Portals

- Hosted IVR Solutions

- Contact Center Applications

Technologies

The following technologies are covered in this research:

- Interactive Voice Response (IVR)
- Automatic Speech Recognition (ASR)
- Text-to-Speech (TTS)

- IP-based IVR

- Information Portal

Market Overview

Vendors Are Finally Seeing a Light at the End of the Tunnel
Voice continues to dominate as the primary media for service interaction between companies and their customers as compared to other media they employ. However, ever since the introduction of interactive voice response (IVR) systems into the customer service arena almost a decade ago, market penetration of traditional touch-tone systems has steadily increased to around 90 percent within large enterprises.
Vendors are finally seeing a light at the end of the tunnel due to a combination of technology maturity and a shift in enterprise focus from cost savings to customer-centric business model. Standards, end-of-life of legacy equipment and maturity of speech technology are helping induce growth in a highly saturated market. there are several growth opportunities within the IVR System vendors business environment. The study offers strategic guidance to industry participants based on successful strategies implemented by leading vendors and Frost & Sullivan analysis of the market.

Speech-enablement and Standardization Have Created More Competition From the Rapidly-Growing Hosted IVR Market
The traditional self-service industry has reached high levels of saturation in most of its end-user verticals, with minimal prospects for the growth of touch-tone interactive voice response systems. This is especially true in the large enterprise segment, which has been the heaviest user of interactive voice response (IVR) systems. Vendors have been trying to increase sales in a market that is inundated with legacy systems but not yet ready to replace the infrastructure.
Where speech-enablement and standardization have been counted as drivers for the premises-based IVR market, these factors have also created more competition from the rapidly growing hosted IVR market. Since the hosted model is characterized by benefits such as low cost and rapid deployment of applications, it seems to be the ideal option for deploying rapidly evolving speech technology.
The years 2004 and 2005 have been the phase of product portfolio development and landscape evolution for the U.S. IVR systems market. In 2005, the market generated approximately $564.8 million in IVR system revenue. The market experienced moderate growth in 2005 from the previous years but is expected to accelerate and grow at a compound annual growth rate (CAGR) of about 13.4 percent over the forecast period. Growth rates for the market are likely to accelerate between 2008 and 2009 and then slow down afterwards.
Finally, the vendor marketplace is highly fragmented and broadly consists of incumbent IVR platform providers such as Nortel, Avaya, Intervoice, Edify and Syntellect and next-generation providers such as VoiceGenie, Genesys and Voxeo.

Contents:

- 1. Introduction
- - 1. Executive Summary
- - 2. Scope of Study and Research Methodology
- - 3. Market Definitions
- 2. Market Overview
- - 1. State of the Market
- - 2. Industry Challenges
- - 3. Market Trends
- - 4. Technology Trends
- - 5. Market Engineering Measurements
- 3. Market Analysis
- - 1. Market Drivers
- - 2. Market Restraints
- - 3. IVR Market Revenue Forecast
- - 4. Percent of Revenue by Port Size
- - 5. Percent of Revenues by Vertical
- - 6. Demand and Pricing Analysis
- 4. Competitive Analysis
- - 1. Competitive Landscape Analysis
- - 2. Market Share Analysis
- - 3. Competitive Profiles
- 5. Market Insights and Considerations
- - 1. Market Insight - Speech Strengthens Hosted Model
- - 2. Considerations for Best Practices
- 6. Frost & Sullivan Awards
- - 1. Frost & Sullivan Award for Growth Strategy Leadership
- - 2. Frost & Sullivan Award for Market Penetration Strategy
- - 3. Frost & Sullivan Award for Product Differentiation Innovation

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