Call Center AI Market Size To Surpass $12,910.6 Million Size by 2030, Says P&S Intelligence

NEW YORK, July 15, 2022 /PRNewswire/ -- According to the latest market research report published by P&S Intelligence, in 2021, the global call center AI market accounted for a $1,982.9 million value, which is on the track to touching $12,910.6 million by 2030, progressing at a CAGR of over 23% from 2021 to 2030. The increasing customer engagement through social media and growing demand for upgraded data analytical abilities, to respond to customer inquiries, drive the market.

According to research, consumer switching costs U.S. firms over $100 billion annually. Because of this, it has become important for firms to enhance their customer services, to increase customer experience. Businesses streamline customer relationship management because of the early deployment of the AI technology in call centers.

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Key Findings of Call Center AI Market Report

• Google Cloud and Sprinklr partnered in January 2022 to support their customer experience management strategy. Sprinklr's agreement with Google will enable it to boost consumer awareness and expedite its go-to-market strategy.
• One of the major industry trends is the growing emphasis on omnichannel customer communication. Customers now have a range of options for interacting with a business, including live chats, emails, social media, and websites, owing to the deployment of call center AI solutions, including chatbots and IVA.
• In terms of solution usage, the call center AI market is led by the BFSI industry. This is owed to the growing demand of customers for flexibility and mobility while executing banking transactions.
• Small & medium enterprises' revenue contribution will grow at a 24.0% CAGR during the forecast period. This will be because of the growing number of SMEs that are adopting call center AI solutions to solve customer queries faster and more effectively.
• The cloud category will record the faster growth, at a 24.3% CAGR, from 2021 to 2030, because the cloud provides flexibility and remote access and the spans public, private, and hybrid cloud technologies.
• A significant demand for AI solutions is generated by the contact centers of IT & telecom companies. Numerous IT and telecom firms are competing for the limited market base; thus, it is crucial for the players to offer high-quality services at reasonable prices.

Browse detailed report on Call Center AI Market Analysis, Size, New Trends, Emerging Opportunities, And Top Key Players By 2030

The North American call center AI market is set to produce $6,582.4 million revenue in 2030, which will have grown at a 23.3% CAGR during 2021–2030. This will be because of the rising expenditure across industries on call centers, to offer effective services to retain customers, and the existence of key companies in the region.

IVAs can aid agents in cross-selling and upselling to consumers, while assisting in making recommendations to potential prospects. Businesses use chatbots and virtual agents with AI capabilities to carry out a variety of automated operations, including balance verifying, placing orders, and responding to initial inquiries.

Call Center AI Market Segmentation Analysis

By Component

• Solutions
• Services
• By Professional Services
• Training and Consulting
• System integration and implementations
• Support and Maintenance
• Managed Services

By Application

• Workforce Optimization
• Predictive Call Routing
• Journey Orchestration
• Agent Performance Management
• Sentiment Analysis
• Appointment Scheduling

By Organization Size

• Small & Medium Enterprises
• Large Enterprises

By Deployment Mode

• Cloud
• On-premises

By End Use

• BFSI
• Retail & eCommerce
• Media & Entertainment
• Healthcare
• IT & Telecom
• Travel & Hospitality

Regional Outlook

• North America
• U.S.
• Canada
• Europe
• France
• Germany
• Italy
• Spain
• U.K.
• Asia-Pacific
• China
• India
• Japan
• South Korea
• Australia
• Latin America
• Brazil
• Mexico
• Argentina
• Middle East and Africa
• Saudi Arabia
• U.A.E.
• South Africa

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SOURCE P&S Intelligence