Interactive Voice Response Market by Technology (Touch-Tone and Speech), Deployment (Cloud and on Premise), Vertical (BFSI, Pharma and Healthcare, ITES), Organization Size, Solution, Service, And Geography - Global Forecast to 2023

  • ID: 4391867
  • Report
  • Region: Global
  • 180 Pages
  • Markets and Markets
1 of 6
The Interactive Voice Response (IVR) Market Was Valued at USD 3.73 Billion in 2017 And is Expected to Reach USD 5.54 Billion By 2023, at a CAGR of 6.83%

FEATURED COMPANIES

  • 24/7 Customer Inc.
  • Avaya Inc.
  • Cisco Systems Inc.
  • Enghouse Systems (Us)
  • Incontact Inc.
  • Nec Corporation (Japan)
  • MORE

“Increasing scalability and efficiency of organizations is contributing to the growth of the interactive voice response market”

IVRs are implemented in multiple enterprises due to its ability to help improve the productivity and effectiveness of the organization. A scalable architecture is achievable using the latest IVRs. The ability of IVRs to route callers to the appropriate department is one of the major reasons for their increased adoption in small and medium enterprises (SMEs) and large enterprises. The IVRs help in routing calls to the concerned agent to save the caller’s time. This results in higher customer satisfaction along with effective customer services. A higher level of customer satisfaction further increases the probability of selling to a new as well as an existing prospect. On the other hand, the complexity of the IVRs due to the presence of multiple irrelevant options is one of the restraining factors in the market. The additional information confuses the customer in selecting a particular option from a list of options in the menu. Hence, sometimes the customers prefer to talk to the customer service person directly instead of talking to a machine. Limiting the menu options helps the system to remember the customer’s choices as well as minimizes the time required for the customer to choose from a list of multiple options.

“Adoption of cloud infrastructure boosts the demand for interactive voice response systems”

There is an increasing adoption of cloud infrastructure because of the ability to provide their self-service applications at a minimal cost. This infrastructure helps the organizations to reduce the operating expense (OPEX) allowing them to achieve a considerably higher level of efficiency. The hosted cloud deployment mode offers ease of data accessibility from anywhere at any time. Moreover, the hosted cloud offers ease of integration with the existing server, which operates on its own physical hardware in minimal time.

“North America considered as key region for the interactive voice response market” 

North America held the largest share of the interactive voice response market in 2016. The increasing demand for cloud-based IVRs in SMEs is likely to drive the growth of the interactive voice response market in North America. Advancements in the interactive voice response technology for flawless communication and security, as well as the ease of accomplishing a task without the help of an agent are the crucial factors driving the growth of the interactive voice response market. Moreover, the tremendous growth of IP contact centers in the US has propelled the growth of the interactive voice response market. The overall interactive voice response market in this region is highly fragmented with the presence of some large and several medium-sized companies that offer solutions for various verticals such as BFSI, pharma and healthcare, government and public sector, and education. 8X8, Inc. (US), Nuance Communications, Inc. (US), Convergys Corporation (US), Avaya Inc. (US), Cisco Systems, Inc. (US), AT&T Inc. (US), West Corporation (US), Genesys Telecommunication Laboratories, Inc. (US), Verizon Communications Inc. (US), 24/7 Customer, Inc. (US), and Five9, Inc. (US)  are some of the major companies that offer IVR solutions in North America.

In the process of determining and verifying the market size for several segments and subsegments gathered through secondary research, extensive primary interviews have been conducted with key experts.

Following is the breakup of the profile of primary participants:

  • By Company Type: Tier 1 - 35%, Tier 2 - 40%, and Tier 3 - 25%
  • By Designation: C-Level Executives - 50%, Directors - 35%, and Others - 15%
  • By Region: North America - 35%, Europe - 22%, APAC - 30%, and RoW - 13%

The prominent players profiled in this report are 8X8, Inc. (US), Nuance Communications, Inc. (US), Convergys Corporation (US), Avaya Inc. (US), Cisco Systems, Inc. (US), AT&T Inc. (US), West Corporation (US), Genesys Telecommunication Laboratories, Inc. (US), Verizon Communications Inc. (US), IVR Lab (US), Aspect Software Parent Inc. (US), 24/7 Customer, Inc. (US), inContact Inc. (US), NewVoiceMedia (UK), and Five9, Inc. (US).

Research Coverage:

The report estimates the size and future growth potential of the interactive voice response market for various segments such as deployment mode, technology, organization size, services, vertical, and geography. In addition, the report comprises industry trends, market dynamics, and competitive analysis of the key players in the market, along with their company profiles, competitive leadership mapping, and recent developments. 

Key Benefits of Buying the Report:

The report would help market leaders/new entrants by providing them with the closest approximations of the revenues generated from the IVR segments and subsegments. This report would help stakeholders better understand the competitor landscape and gain insights to better position their businesses and make suitable go-to-market strategies. This report also helps the stakeholders understand the pulse of the market and provides them information on key market drivers, restraints, challenges, and opportunities.        

READ MORE
Note: Product cover images may vary from those shown
2 of 6

FEATURED COMPANIES

  • 24/7 Customer Inc.
  • Avaya Inc.
  • Cisco Systems Inc.
  • Enghouse Systems (Us)
  • Incontact Inc.
  • Nec Corporation (Japan)
  • MORE

1 Introduction
1.1 Study Objectives
1.2 Market Definition
1.3 Scope
1.3.1 Geographic Scope
1.3.2 Years Considered for the Study
1.4 Currency
1.5 Limitations
1.6 Stakeholders

2 Research Methodology
2.1 Research Data
2.1.1 Secondary Data
2.1.1.1 Key Data from Secondary Sources
2.1.2 Primary Data
2.1.2.1 Key Data from Primary Sources
2.1.2.2 Key Industry Insights
2.1.2.3 Breakdown of Primaries
2.2 Market Size Estimation
2.2.1 Bottom-Up Approach
2.2.2 Top-Down Approach
2.3 Market Breakdown And Data Triangulation
2.4 Research Assumptions

3 Executive Summary

4 Premium Insights
4.1 Attractive Growth Opportunities in Interactive Voice Response Market
4.2 Interactive Voice Response Market, By Organization Size
4.3 Interactive Voice Response Market, By Service And Region
4.4 Interactive Voice Response Market, By Deployment Mode
4.5 Interactive Voice Response Market, By Geography

5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Increasing Integration of Advanced Technologies
5.2.1.2 Rise in Cloud-Based Services Equipped With High Industry Standards Increases Ivr Acceptability
5.2.1.3 Adoption of Ivrs to Increase Scalability And Efficiency of Organizations
5.2.2 Restraints
5.2.2.1 Irrelevant Options And Additional Information Within a Menu Hampers the Usability of Ivrs
5.2.3 Opportunities
5.2.3.1 Growing Ivr Application Areas
5.2.3.2 Increasing Demand for Ivr-Based Outbound Services
5.2.4 Challenges
5.2.4.1 Increasing Security Concerns in Data Encryption

6 Industry Trends
6.1 Introduction
6.2 Value Chain Analysis
6.3 Interactive Voice Response Standards And Regulations
6.3.1 Codes And Standards Related to Interactive Voice Response

7 Interactive Voice Response Market, By Technology
7.1 Introduction
7.2 Speech Based
7.3 Touch-Tone Based

8 Interactive Voice Response Market, By Deployment Mode
8.1 Introduction
8.2 Cloud
8.2.1 Hosted
8.3 On Premise

9 Interactive Voice Response Market, By Organization Size
9.1 Introduction
9.2 Small And Medium Enterprises (Smes)
9.3 Large Enterprises

10 Interactive Voice Response Market, By Service
10.1 Introduction
10.2 Installation
10.3 Training And Education
10.4 Maintenance And Support

11 Interactive Voice Response Market, By Vertical
11.1 Introduction
11.2 Bfsi
11.3 Travel And Hospitality
11.4 Pharma And Healthcare
11.5 Telecommunications
11.6 Government And Public Sector
11.7 Transportation And Logistics
11.8 Information Technology-Enabled Services
11.9 Media, Retail, And E-Commerce
11.10 Education
11.11 Others

12 Interactive Voice Response Market, By Solution
12.1 Introduction
12.2 Call Routing
12.3 Outbound
12.4 Self-Service

13 Geographic Analysis
13.1 Introduction
13.2 North America
13.2.1 Us
13.2.2 Canada
13.2.3 Mexico
13.3 Europe
13.3.1 Uk
13.3.2 Germany
13.3.3 Italy
13.3.4 France
13.3.5 Rest of Europe
13.4 Asia Pacific
13.4.1 Japan
13.4.2 China
13.4.3 India
13.4.4 Philippines
13.4.5 South Korea
13.4.6 Rest of Apac
13.5 Rest of the World
13.5.1 South America
13.5.2 Middle East And Africa

14 Competitive Landscape
14.1 Overview
14.2 Market Ranking Analysis: Interactive Voice Response
14.3 Competitive Leadership Mapping
14.3.1 Visionary Leaders
14.3.2 Dynamic Differentiators
14.3.3 Innovators
14.3.4 Emerging Companies
14.4 Business Strategy Excellence
14.5 Strength of Product Portfolio
25 Companies Analyzed Across the Ecosystem Are - 8X8, Inc. (Us), Nuance Communications, Inc. (Us), Convergys Corporation (Us), Avaya Inc. (Us), Cisco Systems, Inc. (Us),  At&T Inc. (Us), West Corporation (Us), Genesys Telecommunication Laboratories, Inc. (Us), Verizon Communications Inc. (Us), Ivr Lab (Us), Aspect Software Parent Inc. (Us), 24/7 Customer, Inc. (Us), Incontact Inc. (Us), Newvoicemedia (Uk), Five9, Inc. (Us), Enghouse Systems (Us), Bce Inc. (Canada), Verint Systems Inc (Us), Nec Corporation (Japan), Xo Communications, Llc (Us), Centurylink (Us), Dialogtech (Us), Dirad Technologies, Inc. (Us), Solutions Infini (India), And Arise Virtual Solutions (Us).
14.6 Competitive Situations And Trends
14.6.1 Product Launches And Developments
14.6.2 Partnerships And Agreements
14.6.3 Mergers And Acquisitions
14.6.4 Others

15 Company Profiles
15.1 Introduction
(Business Overview, Products Offered & Services Strategies, Key Insights, Recent Developments)*
15.2 Incontact Inc.
15.3 Nuance Communications, Inc.
15.4 Genesys Telecommunication Laboratories, Inc.
15.5 8X8, Inc.
15.6 At&T Inc.
15.7 Avaya Inc.
15.8 Aspect Software Parent, Inc.
15.9 24/7 Customer, Inc.
15.10 Verizon Communications Inc.
15.11 Five9, Inc.
15.12 Cisco Systems, Inc.
15.13 Convergys Corporation
15.14 West Corporation
15.15 Ivr Lab
15.16 Newvoicemedia 164
15.17 Key Innovators
15.17.1 Liveops, Inc.
15.17.2 Ozonetel Communications Pvt. Ltd.
15.17.3 Evolve Ip, Llc
*Details On Business Overview, Products Offered & Services Strategies, Key Insights, Recent Developments, Mnm View Might Not Be Captured in Case of Unlisted Companies.

16 Appendix
16.1 Insights of Industry Experts
16.2 Questionnaire for Interactive Voice Response Market
16.3 Knowledge Store: Subscription Portal
16.4 Introducing Rt: Real-Time Market Intelligence
16.5 Available Customizations
16.6 Related Reports
16.7 Author Details

List of Tables
Table 1 Interactive Voice Response Market, By Technology, 2015-2023 (USD Million)
Table 2 Ivr Market for Speech-Based Technology, By Vertical, 2015-2023 (USD Million)
Table 3 Ivr Market for Touch-Tone-Based Technology, By Vertical, 2015-2023 (USD Million)
Table 4 Interactive Voice Response Market, By Deployment Mode, 2015-2023 (USD Million)
Table 5 Interactive Voice Response Market, By Organization Size
Table 6 Interactive Voice Response Market, By Organization Size, 2015-2023 (USD Million)
Table 7 Interactive Voice Response Market for Smes, By Region, 2015-2023 (USD Million)
Table 8 Interactive Voice Response Market for Large Enterprises, By Region, 2015-2023 (USD Million)
Table 9 Interactive Voice Response Market, By Service, 2015-2023 (USD Million)
Table 10 Interactive Voice Response Market, By Vertical, 2015-2023 (USD Million)
Table 11 Interactive Voice Response Market for Bfsi, By Technology, 2015-2023 (USD Million)
Table 12 Interactive Voice Response Market in Bfsi, By Region, 2015-2023 (USD Million)
Table 13 Interactive Voice Response Market in Travel And Hospitality, By Technology, 2015-2023 (USD Million)
Table 14 Interactive Voice Response Market for Travel And Hospitality, By Region, 2015-2023 (USD Million)
Table 15 Interactive Voice Response Market for Pharma And Healthcare, By Technology, 2015-2023 (USD Million)
Table 16 Interactive Voice Response Market for Pharma And Healthcare, By Region, 2015-2023 (USD Million)
Table 17 Interactive Voice Response Market for Telecommunications, By Technology, 2015-2023 (USD Million)
Table 18 Interactive Voice Response Market for Telecommunications, By Region, 2015-2023 (USD Million)
Table 19 Interactive Voice Response Market for Government And Public Sector, By Technology, 2015-2023 (USD Million)
Table 20 Interactive Voice Response Market for Government And Public Sector, By Region, 2015-2023 (USD Million)
Table 21 Interactive Voice Response Market for Transportation And Logistics, By Technology, 2015-2023 (USD Million)
Table 22 Interactive Voice Response Market for Transportation And Logistics, By Region, 2015-2023 (USD Million)
Table 23 Interactive Voice Response Market for Ites, By Technology, 2015-2023 (USD Million)
Table 24 Interactive Voice Response Market for Ites, By Region, 2015-2023 (USD Million)
Table 25 Interactive Voice Response Market for Media, Retail, And E-Commerce, By Technology, 2015-2023 (USD Million)
Table 26 Interactive Voice Response Market for Media, Retail, And E-Commerce, By Region, 2015-2023 (USD Million)
Table 27 Interactive Voice Response Market for Education, By Technology, 2015-2023 (USD Million)
Table 28 Interactive Voice Response Market for Education, By Region, 2015-2023 (USD Million)
Table 29 Interactive Voice Response Market for Others, By Technology, 2015-2023 (USD Million)
Table 30 Interactive Voice Response Market for Others, By Region, 2015-2023 (USD Million)
Table 31 Interactive Voice Response Market, By Region, 2015-2023 (USD Million)
Table 32 Interactive Voice Response Market in North America, By Vertical, 2016-2023 (USD Million)
Table 33 Interactive Voice Response Market in North America, By Deployment Mode, 2015-2023 (USD Million)
Table 34 Interactive Voice Response Market in North America, By Organization Size, 2015-2023 (USD Million)
Table 35 Interactive Voice Response Market in North America, By Country, 2015-2023 (USD Million)
Table 36 Interactive Voice Response Market in Us, By Organization Size, 2015-2023 (USD Million)
Table 37 Interactive Voice Response Market in Canada, By Organization Size, 2015-2023 (USD Million)
Table 38 Interactive Voice Response Market in Mexico, By Organization Size, 2015-2023 (USD Million)
Table 39 Interactive Voice Response Market in Europe, By Vertical, 2015-2023 (USD Million)
Table 40 Interactive Voice Response Market in Europe, By Deployment Mode, 2015-2023 (USD Million)
Table 41 Interactive Voice Response Market in Europe, By Organization Size, 2015-2023 (USD Million)
Table 42 Interactive Voice Response Market in Europe, By Country, 2015-2023 (USD Million)
Table 43 Interactive Voice Response Market in Uk, By Organization Size, 2015-2023 (USD Million)
Table 44 Interactive Voice Response Market in Germany, By Organization Size, 2015-2023 (USD Million)
Table 45 Interactive Voice Response Market in Italy, By Organization Size, 2015-2023 (USD Million)
Table 46 Interactive Voice Response Market in France, By Organization Size, 2015-2023 (USD Million)
Table 47 Interactive Voice Response Market in Roe, By Organization Size, 2015-2023 (USD Million)
Table 48 Interactive Voice Response Market in Apac, By Vertical, 2015-2023 (USD Million)
Table 49 Interactive Voice Response Market in Apac, By Deployment Mode, 2015-2023 (USD Million)
Table 50 Interactive Voice Response Market in Apac, By Organization Size, 2015-2023 (USD Million)
Table 51 Interactive Voice Response Market in Apac, By Country, 2015-2023 (USD Million)
Table 52 Interactive Voice Response Market in Japan, By Organization Size, 2015-2023 (USD Million)
Table 53 Interactive Voice Response Market in China, By Organization Size, 2015-2023 (USD Million)
Table 54 Interactive Voice Response Market in India, By Organization Size, 2015-2023 (USD Million)
Table 55 Interactive Voice Response Market in Philippines, By Organization Size, 2015-2023 (USD Million)
Table 56 Interactive Voice Response Market in South Korea, By Organization Size, 2015-2023 (USD Million)
Table 57 Interactive Voice Response Market in Roapac, By Organization Size, 2015-2023 (USD Million)
Table 58 Interactive Voice Response Market in Row, By Vertical, 2015-2023 (USD Million)
Table 59 Interactive Voice Response Market in Row, By Deployment Mode, 2015-2023 (USD Million)
Table 60 Interactive Voice Response Market in Row, By Organization Size, 2015-2023 (USD Million)
Table 61 Interactive Voice Response Market in Row, By Region, 2015-2023 (USD Million)
Table 62 Interactive Voice Response Market in South America, By Organization Size, 2015-2023 (USD Million)
Table 63 Interactive Voice Response Market in Mea, By Organization Size, 2015-2023 (USD Million)
Table 64 Interactive Voice Response Market: Company Ranking Analysis
Table 65 Product Launches And Developments (2015 - 2017)
Table 66 Partnerships And Agreements (2015-2017)
Table 67 Mergers And Acquisitions (2015 & 2017)
Table 68 Collaborations And Expansions (2017)

List of Figures
Figure 1 Interactive Voice Response Market Segmentation
Figure 2 Interactive Voice Response Market: Research Design
Figure 3 Market Size Estimation Methodology: Bottom-Up Approach
Figure 4 Market Size Estimation Methodology: Top-Down Approach
Figure 5 Data Triangulation
Figure 6 Snapshot of the Interactive Voice Response Market, 2015-2023 (USD Billion)
Figure 7 Bfsi Vertical to Hold the Largest Share of Ivr Market During Forecast Period
Figure 8 Cloud-Based Deployment Mode to Hold a Larger Share in Comparison With On Premise By 2023
Figure 9 Touch-Tone Based to Hold Larger Share of Overall Ivr Market By 2023
Figure 10 Overall Interactive Voice Response Market, By Country, 2017
Figure 11 Interactive Voice Response Market in Apac to Grow at Highest CAGR During the Forecast Period
Figure 12 Sme to Lead Interactive Voice Response Market During the Forecast Period
Figure 13 Maintenance And Support to Hold Largest Share of Interactive Voice Response Market in North America in 2017
Figure 14 Cloud to Hold Larger Share of Interactive Voice Response Market By 2023
Figure 15 Philippines Expected to Grow at Highest CAGR in Interactive Voice Response Market During Forecast Period
Figure 16 Increasing Investments in Iot Technology And Growing Applications of Smart Wireless Sensors Fuel Growth of Interactive Voice Response Market
Figure 17 Value Chain Analysis of Interactive Voice Response (Ivr) Market
Figure 18 Interactive Voice Response Market Segmentation, By Technology
Figure 19 Interactive Voice Response (Ivr) Market, By Technology, 2017 & 2023
Figure 20 Interactive Voice Response Market Segmentation, By Deployment Mode
Figure 21 Interactive Voice Response Market, By Deployment Mode, 2017 & 2023
Figure 22 Small And Medium Enterprises to Hold Largest Share of Interactive Voice Response Market During Forecast Period, 2017 & 2023
Figure 23 Interactive Voice Response Market Segmentation, By Service
Figure 24 Interactive Voice Response Market, By Vertical
Figure 25 North America Held Largest Share of Interactive Voice Response Market for Bfsi in 2017
Figure 26 Apac to Hold Share of Interactive Voice Response Market for Travel And Hospitality By 2023
Figure 27 North America to Hold Largest Share of Interactive Voice Response Market for Pharma And Healthcare By 2023
Figure 28 Apac to Hold Largest Share of Interactive Voice Response Market for Telecommunications By 2023
Figure 29 North America to Hold Largest Share of Interactive Voice Response Market for Government And Public Sector By 2023
Figure 30 Apac to Hold Largest Share of Interactive Voice Response Market for Transportation And Logistics By 2023
Figure 31 Apac to Hold Largest Share of Interactive Voice Response Market for Ites By 2023
Figure 32 Apac to Hold Largest Share of Interactive Voice Response Market for Media, Retail, And E-Commerce By 2023
Figure 33 North America to Hold Largest Share of Interactive Voice Response Market for Education By 2023
Figure 34 North America Held Largest Share of Interactive Voice Response Market for Other Verticals in 2017
Figure 35 Interactive Voice Response Market Segmentation, By Solution
Figure 36 Interactive Voice Response Market: Apac Would Be Fastest Growing Region Over Next Six Years
Figure 37 Snapshot of Interactive Voice Response Market in North America
Figure 38 Snapshot of Interactive Voice Response Market in Europe
Figure 39 Snapshot of Interactive Voice Response Market in Apac
Figure 40 Interactive Voice Response Market (Global): Competitive Leadership Mapping, 2017
Figure 41 Market Evolution Framework - Product Launches And Developments Were Key Strategies Adopted By Market Players
Figure 42 Battle for Market Share: Product Launches And Developments Were Key Growth Strategies
Figure 43 Nice Ltd.: Company Snapshot
Figure 44 Nuance Communications, Inc.: Company Snapshot
Figure 45 8X8, Inc.: Company Snapshot
Figure 46 At&T Inc.: Company Snapshot
Figure 47 Avaya Inc.: Company Snapshot
Figure 48 Verizon Communications Inc.: Company Snapshot
Figure 49 Five9, Inc.: Company Snapshot
Figure 50 Cisco Systems, Inc.: Company Snapshot
Figure 51 Convergys Corporation: Company Snapshot
Figure 52 West Corporation: Company Snapshot

Note: Product cover images may vary from those shown
3 of 6

Loading
LOADING...

4 of 6
5 of 6
  • 24/7 Customer Inc.
  • 8X8 Inc.
  • Arise Virtual Solutions (Us).
  • Aspect Software Parent Inc.
  • AT&T Inc.
  • Avaya Inc.
  • Bce Inc. (Canada)
  • Centurylink (Us)
  • Cisco Systems Inc.
  • Convergys Corporation
  • Dialogtech (Us)
  • Dirad Technologies Inc. (Us)
  • Enghouse Systems (Us)
  • Evolve Ip Llc
  • Five9 Inc.
  • Genesys Telecommunication Laboratories Inc.
  • Incontact Inc.
  • Ivr Lab
  • Liveops Inc.
  • Nec Corporation (Japan)
  • Newvoicemedia (Uk)
  • Nuance Communications Inc.
  • Ozonetel Communications Pvt. Ltd.
  • Solutions Infini (India)
  • Verint Systems Inc (Us)
  • Verizon Communications Inc.
  • West Corporation
  • Xo Communications Llc (Us)
Note: Product cover images may vary from those shown
6 of 6
Note: Product cover images may vary from those shown
Adroll
adroll