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

Report
640 Pages
April 2024
Region: Global
Global Industry Analysts, Inc
ID: 338501

The global market for Interactive Voice Response (IVR) Systems is estimated at US$4.9 Billion in 2023 and is projected to reach US$7.2 Billion by 2030, growing at a CAGR of 4.9% from 2023 to 2030. This comprehensive report provides an in-depth analysis of market trends, drivers, and forecasts, helping you make informed business decisions.

Key Insights:

Market Growth: Understand the significant growth trajectory of the Touchtone-based segment, which is expected to reach US$3.8 Billion by 2030 with a CAGR of 3.5%. The Speech-Based segment is also set to grow at 6.7% CAGR over the next 8 years.
Regional Analysis: Gain insights into the U.S. market, estimated at $1.5 Billion in 2023, and China, forecasted to grow at an impressive 5.7% CAGR to reach $1.2 Billion by 2030. Discover growth trends in other key regions, including Japan, Canada, Germany, and the Asia-Pacific.

Why You Should Buy This Report:

Detailed Market Analysis: Access a thorough analysis of the Global Interactive Voice Response (IVR) Systems Market, covering all major geographic regions and market segments.
Competitive Insights: Get an overview of the competitive landscape, including the market presence of major players across different geographies.
Future Trends and Drivers: Understand the key trends and drivers shaping the future of the Global Interactive Voice Response (IVR) Systems Market.
Actionable Insights: Benefit from actionable insights that can help you identify new revenue opportunities and make strategic business decisions.

Key Questions Answered:

How is the Global Interactive Voice Response (IVR) Systems Market expected to evolve by 2030?
What are the main drivers and restraints affecting the market?
Which market segments will grow the most over the forecast period?
How will market shares for different regions and segments change by 2030?
Who are the leading players in the market, and what are their prospects?

Report Features:

Comprehensive Market Data: Independent analysis of annual sales and market forecasts in US$ Million from 2023 to 2030.
In-Depth Regional Analysis: Detailed insights into key markets, including the U.S., China, Japan, Canada, Europe, Asia-Pacific, Latin America, Middle East, and Africa.
Company Profiles: Coverage of major players such as AT&T, Inc., Agnity Global, Inc., Bay Talkitec, and more.
Complimentary Updates: Receive free report updates for one year to keep you informed of the latest market developments.

Select Competitors (Total 92 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.

MarketGlass Platform

Our reports are enhanced by the MarketGlass platform, which brings together industry experts and influencers to provide high-quality, accurate insights. This unique platform allows us to gather comprehensive data and market perspectives, ensuring you receive the most reliable and detailed analysis available.

I. METHODOLOGYII. EXECUTIVE SUMMARY

1. MARKET OVERVIEW

IVR Becomes a Canvas for Engaging, Efficient Interactions with Loud & Clear Trends
Global Market Prospects & Outlook
Growth Opportunities and Constraints for IVR Systems Market
Impact of COVID-19 on Call Centers
The Critical Role of IVR Systems in Telehealth During the COVID-19 Pandemic
Cloud Telephony as a Business Continuity Strategy in SMEs During the Pandemic
Analysis by Technology
Exhibit 1: 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
Exhibit 2: 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
Exhibit 3: World Interactive Voice Response (IVR) Systems Market by Region: Percentage Breakdown of Revenues for Developed and Developing Regions (2024 & 2030)
Exhibit 4: 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
Global Economic Update
Navigating the New Normal: From Pandemic to Endemic COVID-19 and Beyond
Finding a Way to Steer the Inflation Challenge: A Global Economic Perspective
Exhibit 5: Global Oil Prices Remain Nervous Amid Acute Geopolitical Uncertainty & Tensions that Heighten Threat of Market Shocks: Global Average Annual Brent Crude Oil Price (In US$ Per Barrel) for Years 2017 through 2025F
Exhibit 6: While Still Not in the Comfort Zone, the Expected Steeper Fall in Inflation in 2024 Can Cushion Economic Growth by Easing Financial Conditions: Global Headline Inflation Rates (In %) for the Years 2019 through 2025F
Exhibit 7: Flat Growth for 2024 & A Possible Soft Landing, as the Global Economy Attempts to Balance Recovery While Navigating Through Wars, Political Conflicts & Inflation: World Economic Growth Projections (Real GDP, Annual % Change) for the Years 2022 Through 2025
Competitive Scenario
Select Popular IVR Systems
Select IVR Service Providers
Select Innovations
Exhibit 8: Interactive Voice Response (IVR) Systems - Global Key Competitors Percentage Market Share in 2024 (E)
Competitive Market Presence - Strong/Active/Niche/Trivial for 92 Players Worldwide in 2024 (E)
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
Intriguing Aspects of Latest IVR Systems
Recent Market Activity
Influencer Market Insights

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
IVR Intertwines Tightly with Contact Center Industry amid Emerging Trends
Exhibit 9: Global Call Centers Market by Deployment (in %) for 2024E
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
Unceasing Evolution of IVR Systems in the Realm of Customer Service
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
Exhibit 10: Global Market for Artificial Intelligence (AI) (In US$ Billion) for Years 2023E, 2025F & 2027F
NLP and NLU Critical IVR Technologies Bringing Change
Rapid Rise in Cloud-based Services Fuel Need for IVR Systems
Exhibit 11: Global Public Cloud Services (2024E): Percentage Market Share by Service Type
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
Exhibit 12: Expanding Digital Payments Infrastructure Supplemented with New Payment Instruments Push Non-Cash Transactions: Global Volume of Non-Cash Transactions (In Billion) for the Years 2021 to 2024E
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
Exhibit 13: 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
Exhibit 14: Global B2C E-Commerce Sales in US$ Trillion for the Years 2019 to 2025
Pandemic Fast Forwards eCommerce Growth
Exhibit 15: 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
IVR Systems: Calling Conversational IVR to Alleviate Pain Points
Challenges Facing IVR Systems Market

4. GLOBAL MARKET PERSPECTIVE

Table 1: World Interactive Voice Response (IVR) Systems Market Analysis of Annual Revenues in US$ Thousand for Years 2014 through 2030
Table 2: 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 3: 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 4: 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 5: 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 6: 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 7: 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 8: 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 9: 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 10: 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 11: World Recent Past, Current & Future Analysis for BFSI End-Use 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 12: World Historic Review for BFSI End-Use 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 13: World 16-Year Perspective for BFSI End-Use 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 14: World Recent Past, Current & Future Analysis for Travel & Hospitality End-Use 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 15: World Historic Review for Travel & Hospitality End-Use 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 16: World 16-Year Perspective for Travel & Hospitality End-Use 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 17: World Recent Past, Current & Future Analysis for Pharma & Healthcare End-Use 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 18: World Historic Review for Pharma & Healthcare End-Use 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 19: World 16-Year Perspective for Pharma & Healthcare End-Use 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 20: World Recent Past, Current & Future Analysis for TelecommUnication & ITES End-use 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 21: World Historic Review for TelecommUnication & ITES End-use 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 22: World 16-Year Perspective for TelecommUnication & ITES End-use 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 23: World Recent Past, Current & Future Analysis for Retail & Ecommerce End-Use 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 24: World Historic Review for Retail & Ecommerce End-Use 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 25: World 16-Year Perspective for Retail & Ecommerce End-Use 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 26: 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 27: 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 28: 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

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)
Market Analytics

CANADA

Interactive Voice Response (IVR) Systems Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Canada for 2024 (E)
Market Analytics

JAPANCHINA

EUROPE

Interactive Voice Response (IVR) Systems Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Europe for 2024 (E)
Market Analytics

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)
Market Analytics

AUSTRALIAINDIASOUTH KOREAREST OF ASIA-PACIFICLATIN AMERICAARGENTINABRAZILMEXICOREST OF LATIN AMERICAMIDDLE EASTIRANISRAELSAUDI ARABIAUNITED ARAB EMIRATESREST OF MIDDLE EASTAFRICAIV. 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

Report Attribute	Details
No. of Pages	640
Published	April 2024
Forecast Period	2023 - 2030
Estimated Market Value ( USD ) in 2023	$ 4.9 Billion
Forecasted Market Value ( USD ) by 2030	$ 7.2 Billion
Compound Annual Growth Rate	4.9%
Regions Covered	Global

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Key Insights:

Why You Should Buy This Report:

Key Questions Answered:

Report Features:

Select Competitors (Total 92 Featured):

MarketGlass Platform

Table of Contents

Companies Mentioned (Partial List)

Table Information

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