Global Call Center AI Markets, 2019-2024 - Increasing Adoption of AI-Enabled Chatbots, Increasing Preference for Omnichannel Communication with Customers
DUBLIN, Feb. 13, 2020 /PRNewswire/ -- The "Call Center AI Market Research Report: By Component, Deployment, Technology, Industry, Geographical Outlook - Global Industry Trends and Growth Forecast to 2024" report has been added to ResearchAndMarkets.com's offering.
In 2018, the global call center artificial intelligence (AI) market reached a value of $914.5 million and is expected to generate $2,990.1 million in 2024, witnessing a 22.6% CAGR during the forecast period (2019-2024).
The market is growing due to the presence of large number of call centers, utilization of AI for enhanced customer support services, and timely assistance facilitated by AI. The deployment of various AI solutions, such as automatic speech recognition, natural language processing, and machine learning, for call centers is referred to as call center AI.
When component is taken into consideration, the call center AI market is bifurcated into services and solutions. Among these, the larger share of the market was held the solutions category in 2018. The category is further classified into intelligent interactive voice response (IVR) system, chatbot, and intelligent virtual assistance (IVA). The chatbot classification accounted for a significant share of the market in 2018. This was due to the high requirement for chatbots in several industries, for reducing training cost of agents, personalizing experience for the customers, improving customer service, and resolving customer queries quickly.
A primary trend in the call center AI market is the growing adoption of AI-enabled chatbots. Chatbots make use of AI and machine learning in order to resolve customer queries. They utilize existing information such as organization's knowledge base and frequently asked questions for offering improved customer service. The deployment of chatbots cuts down the waiting time for customers significantly, since their response time is extremely fast. Furthermore, chatbots can provide assistance to multiple customers at a time as opposed to a human agent.
On the basis of industry, the call center AI market is categorized into media & entertainment, healthcare, banking, financial services, and insurance (BFSI), telecom, retail & e-commerce, and others (which include automotive, education, energy & utilities, government, and oil & gas). Out of these, the BFSI category is expected to grow at the fastest pace during the forecast period because of the rising demand for omnichannel experience for customers, reduction in the cost of financial institutions and banks, and increased customer satisfaction.
Key Topics Covered
Chapter 1. Research Background
1.1 Research Objectives
1.2 Market Definition
1.3 Research Scope
1.3.1 Market Segmentation by Component
1.3.2 Market Segmentation by Deployment
1.3.3 Market Segmentation by Technology
1.3.4 Market Segmentation by Industry
1.3.5 Market Segmentation by Region
1.3.6 Analysis Period
1.3.7 Market Data Reporting Unit
1.3.7.1 Value
1.4 Key Stakeholders
Chapter 2. Research Methodology
Chapter 3. Executive Summary
Chapter 4. Introduction
4.1 Definition of Market Segments
4.1.1 By Component
4.1.1.1 Solutions
4.1.1.1.1 Chatbot
4.1.1.1.2 IVA
4.1.1.1.3 Intelligent IVR System
4.1.1.2 Services
4.1.1.2.1 Professional
4.1.1.2.2 Managed
4.1.2 By Deployment
4.1.2.1 Cloud
4.1.2.2 On-Premises
4.1.3 By Industry
4.1.3.1 BFSI
4.1.3.2 Retail and E-commerce
4.1.3.3 Healthcare
4.1.3.4 Telecom
4.1.3.5 Media and Entertainment
4.1.3.6 Others
4.1.4 By Technology
4.1.4.1 NLP
4.1.4.2 Machine Learning
4.1.4.3 ASR
4.1.4.4 Others
4.2 Value Chain Analysis
4.3 Market Dynamics
4.3.1 Trends
4.3.1.1 Growing use of AI solutions
4.3.1.2 Increasing adoption of AI enabled chatbots
4.3.1.3 Increasing preference for omnichannel communication with customers
4.3.2 Drivers
4.3.2.1 Utilization of AI for enhanced customer support services
4.3.2.2 Large presence of call centers
4.3.2.3 AI facilitates 24X7 availability and timely assistance
4.3.2.4 Impact analysis of drivers on market forecast
4.3.3 Restraints
4.3.3.1 Security and ethical concerns
4.3.3.2 Limited scope of resolution
4.3.3.3 Impact analysis of restraints on market forecast
4.3.4 Opportunities
4.3.4.1 Automating the customer service process in call centers
4.4 Porter's Five Forces Analysis
Chapter 5. Global Market Size and Forecast
5.1 By Component
5.1.1 Solutions, by Type
5.1.2 Services, by Type
5.2 By Deployment
5.3 By Technology
5.4 By Industry
5.5 By Region
Chapter 6. North America Market Size and Forecast
Chapter 7. Europe Market Size and Forecast
Chapter 8. APAC Market Size and Forecast
Chapter 9. LATAM Market Size and Forecast
Chapter 10. MEA Market Size and Forecast
Chapter 11. Competitive Landscape
11.1 List of Key Players and Their Offerings
11.2 Competitive Analysis of Key Players
11.3 Competitive Benchmarking of Key Players
11.4 Recent Activities of Major Players
11.5 Strategic Developments of Key Players
11.5.1 Product Launches
11.5.2 Partnerships
11.5.3 Client Wins
11.5.4 Other Developments
Chapter 12. Company Profiles
12.1 Zendesk Inc.
12.1.1 Business Overview
12.1.2 Product and Service Offerings
12.1.3 Key Financial Summary
12.2 International Business Machines Corporation
12.3 Talkdesk Inc.
12.4 Five9 Inc.
12.5 Microsoft Corporation
12.6 Haptik Inc.
12.7 Nuance Communications Inc.
12.8 Oracle Corporation
12.9 SAP SE
12.10 Google LLC
For more information about this report visit https://www.researchandmarkets.com/r/h81b27
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