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Interactive Voice Response (IVR) Systems - Market Analysis, Trends, and Forecasts

  • ID: 338501
  • Report
  • February 2020
  • Region: Global
  • 260 Pages
  • Global Industry Analysts, Inc
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Interactive Voice Response (IVR) Systems market worldwide is projected to grow by US$2.1 Billion, driven by a compounded growth of 6.5%. Touchtone-based, one of the segments analyzed and sized in this study, displays the potential to grow at over 6.4%. The shifting dynamics supporting this growth makes it critical for businesses in this space to keep abreast of the changing pulse of the market. Poised to reach over US$3.6 Billion by the year 2025, Touchtone-based will bring in healthy gains adding significant momentum to global growth.

Representing the developed world, the United States will maintain a 5.5% growth momentum. Within Europe, which continues to remain an important element in the world economy, Germany will add over US$75.1 Million to the region's size and clout in the next 5 to 6 years. Over US$64.8 Million worth of projected demand in the region will come from Rest of Europe markets. In Japan, Touchtone-based will reach a market size of US$189.8 Million by the close of the analysis period. As the world’s second largest economy and the new game changer in global markets, China exhibits the potential to grow at 9.6% over the next couple of years and add approximately US$582.4 Million in terms of addressable opportunity for the picking by aspiring businesses and their astute leaders. Presented in visually rich graphics are these and many more need-to-know quantitative data important in ensuring quality of strategy decisions, be it entry into new markets or allocation of resources within a portfolio. Several macroeconomic factors and internal market forces will shape growth and development of demand patterns in emerging countries in Asia-Pacific, Latin America and the Middle East. All research viewpoints presented are based on validated engagements from influencers in the market, whose opinions supersede all other research methodologies.

Competitors identified in this market include, among others,
  • [24]7 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
  • Genesys
  • Mitel Networks Corporation
  • Nuance Communications, Inc.
  • True Image Interactive, Inc.
  • Verizon Communications, Inc.
  • Voicent Communications, Inc.
  • West Corporation
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

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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