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Interactive Voice Response (IVR) Systems - Global Market Trajectory & Analytics

  • ID: 338501
  • Report
  • July 2020
  • Region: Global
  • 322 Pages
  • Global Industry Analysts, Inc
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Global Interactive Voice Response (IVR) Systems Market to Reach US$6.1 Billion by the Year 2027

Amid the COVID-19 crisis, the global market for Interactive Voice Response (IVR) Systems estimated at US$4.1 Billion in the year 2020, is projected to reach a revised size of US$6.1 Billion by 2027, growing at a CAGR of 5.6% over the period 2020-2027.Touchtone-based, one of the segments analyzed in the report, is projected to grow at a 5.5% CAGR to reach US$3.6 Billion by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Speech-based segment is readjusted to a revised 5.8% CAGR for the next 7-year period. This segment currently accounts for a 39.8% share of the global Interactive Voice Response (IVR) Systems market.

The U. S. Accounts for Over 27.1% of Global Market Size in 2020, While China is Forecast to Grow at a 8.7% CAGR for the Period of 2020-2027

The Interactive Voice Response (IVR) Systems market in the U. S. is estimated at US$1.1 Billion in the year 2020. The country currently accounts for a 27.09% share in the global market. China, the world second largest economy, is forecast to reach an estimated market size of US$1.3 Billion in the year 2027 trailing a CAGR of 8.5% through 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 3.1% and 5.1% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 3.6% CAGR while Rest of European market (as defined in the study) will reach US$1.3 Billion by the year 2027.The publisher brings years of research experience to this 19th edition of our report. The 322-page report presents concise insights into how the pandemic has impacted production and the buy side for 2020 and 2021. A short-term phased recovery by key geography is also addressed.

Competitors identified in this market include, among others
  • [24]7.ai, Inc.
  • Aspect Software, Inc.
  • AT&T, Inc.
  • Avaya, Inc.
  • Cisco Systems, Inc.
  • Connect First, Inc.
  • Convergys Corp.
  • Database Systems Corp.
  • Dialogic Corporation
  • DialogTech
  • E-Complish, Inc.
  • Enghouse Systems Limited
  • Mitel Networks Corporation
  • Nuance Communications, Inc.
  • True Image Interactive, Inc.
  • Verizon Communications, Inc.
  • Voicent Communications, Inc.
  • West Corporation

The global analysis and forecast periods covered within the report are 2020-2027 (Current & Future Analysis) and 2012-2019 (Historic Review). Research estimates are provided for 2020, while research projections cover the period 2021-2027.
Note: Product cover images may vary from those shown
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I. INTRODUCTION, METHODOLOGY & REPORT SCOPE

II. EXECUTIVE SUMMARY

1. MARKET OVERVIEW

Customer Service Automation Continues to Play a Crucial Role in Shaping Brand Experiences

Opportunity for IVR Stands Amplified Against the Backdrop of Droids Taking Over Live Customer Care Agents

Recent Market Activity

IVR: Technology/Market Overview

Market Outlook

Global Competitor Market Shares

Interactive Voice Response (IVR) Systems Competitor Market Share Scenario Worldwide (in %): 2020 & 2029

Impact of Covid-19 and a Looming Global Recession

2. FOCUS ON SELECT PLAYERS

[24]7 Inc. (USA)

Aspect Software, Inc. (USA)

AT&T, Inc. (USA)

Aumtech, Inc. (USA)

Avaya, Inc. (USA)

Cisco Systems, Inc. (USA)

Connect First, Inc. (USA)

Convergys Corp. (USA)

Database Systems Corp. (USA)

Dialogic Corporation (Canada)

DialogTech

E-Complish, Inc. (USA)

Enghouse Systems Limited (Canada)

Genesys (USA)

Mitel Networks Corporation (Canada)

Nuance Communications, Inc. (USA)

True Image Interactive, Inc. (USA)

Verizon Communications, Inc. (USA)

Voicent Communications, Inc. (USA)

West Corporation (USA)

3. MARKET TRENDS & DRIVERS

Noteworthy Trends, Drivers & Issues

Healthy Outlook for the World Call Center Industry to Offer Trickle Down Benefits to the IVR Market

Mobile Telephony Revolution Creates Explosion in Inbound Call Volumes & Spurs Opportunities for IVR for Automating Call Handling

Continued Use of Telemarketing to Create Valuable Sales Leads, Drives Opportunities for Outbound IVR

The Ballooning eCommerce Market Fuels Demand for IVR

Choice of Recorded Voice Gains Prominence in IVR Development & Deployment

Advanced Natural Language Interactive IVR Comes of Age

The Rise of Conversational Commerce Drives the Popularity of Speech Enabled IVR

Focus On Customer Experience Monitoring Drives Home the Importance of IVR Analytics

Focus On Personalized Marketing & Customer Service Drives Opportunities for Personalized IVR

Cloud Based IVR Makes Its Disruptive Emergence in the Market

Growing Complexity of IVR Infrastructure Maintenance Spurs Interest in Managed IVR Solutions

Convergence of Big Data & Customer Experience Fuel the Emergence of Smart IVR Technology Solutions

Growing Popularity of IVR Payment Processing to Benefit Market Growth

Rise in IVR Security Threats Spurs Demand for Voice Biometrics Based IVR

Healthcare Consumerism Drives Demand for IVR in the Healthcare Industry

Lack of Human Touch: A Key Perspective Bottleneck to Growth

4. GLOBAL MARKET PERSPECTIVE

III. MARKET ANALYSIS

GEOGRAPHIC MARKET ANALYSIS

UNITED STATES

Market Facts & Figures

US Interactive Voice Response (IVR) Systems Market Share (in %) by Company: 2020 & 2025

Market Analytics

CANADA

JAPAN

CHINA

EUROPE

Market Facts & Figures

European Interactive Voice Response (IVR) Systems Market: Competitor Market Share Scenario (in %) for 2020 & 2025

Market Analytics

FRANCE

GERMANY

ITALY

UNITED KINGDOM

SPAIN

RUSSIA

REST OF EUROPE

ASIA-PACIFIC

AUSTRALIA

INDIA

SOUTH KOREA

REST OF ASIA-PACIFIC

LATIN AMERICA

ARGENTINA

BRAZIL

MEXICO

REST OF LATIN AMERICA

MIDDLE EAST

IRAN

ISRAEL

SAUDI ARABIA

UNITED ARAB EMIRATES

REST OF MIDDLE EAST

AFRICA

IV. COMPETITION

Total Companies Profiled: 82

Note: Product cover images may vary from those shown
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