Global Interactive Voice Response (IVR) Systems Market to Reach $9.2 Billion by 2030, Driven by Increasing Adoption in Call Centers and Various Industries

DUBLIN, July 13, 2023 /PRNewswire/ -- The "Interactive Voice Response (IVR) Systems: Global Strategic Business Report" report has been added to  ResearchAndMarkets.com's offering.

The global market for Interactive Voice Response (IVR) Systems estimated at US$4.9 Billion in the year 2022, is projected to reach a revised size of US$9.2 Billion by 2030, growing at a CAGR of 8.3% over the analysis period 2022-2030.

Touchtone-based, one of the segments analyzed in the report, is projected to record 7.8% CAGR and reach US$5.3 Billion by the end of the analysis period.

Taking into account the ongoing post pandemic recovery, growth in the Speech-based segment is readjusted to a revised 9% CAGR for the next 8-year period.

The U.S. Market is Estimated at $1.5 Billion, While China is Forecast to Grow at 9.7% CAGR

The Interactive Voice Response (IVR) Systems market in the U.S. is estimated at US$1.5 Billion in the year 2022. China, the world's second largest economy, is forecast to reach a projected market size of US$1.6 Billion by the year 2030 trailing a CAGR of 9.7% over the analysis period 2022 to 2030.

Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 7.2% and 7.5% respectively over the 2022-2030 period. Within Europe, Germany is forecast to grow at approximately 8.4% CAGR.

Select Competitors (Total 98 Featured) -

• [24]7.ai, Inc.
• 8x8, Inc.
• Alvaria, Inc.
• Atos SE
• Avaya Inc.
• Cisco Systems, Inc.
• Five9, Inc.
• Genesys
• NICE inContact
• IVR Lab LLC
• NEC Corporation of America
• Nuance Communications, Inc.
• RingCentral, Inc.
• Verizon Communications Inc.
• Vonage Holdings Corp.

Key Topics Covered:

I. METHODOLOGY

II. EXECUTIVE SUMMARY

1. MARKET OVERVIEW

• Impact of COVID-19 Pandemic and Looming Global Recession: 2020 Marked as a Year of Disruption & Transformation
• As the Race between the Virus & Vaccines Intensifies, Where is the World Economy Headed in 2021?
• World Economic Growth Projections (Real GDP, Annual % Change) for 2020 through 2022
• Impact of COVID-19 Pandemic on Call Centers
• With Telehealth Growing Amidst the COVID-19 Pandemic, IVR Systems Emerge as Critical Technology to Enable Services
• SMEs Increasingly Rely on Cloud Telephony amidst COVID-19 Pandemic
• 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
• Global Market Prospects & Outlook
• Growth Opportunities and Constraints for IVR Systems Market
• Analysis by Technology
• World Interactive Voice Response (IVR) Systems Market by Technology (2021 & 2027): Percentage Breakdown of Revenues for Touchtone-Based, and Speech-Based
• Analysis by End-Use
• World Interactive Voice Response (IVR) Systems Market by End-Use (2021 & 2027): Percentage Breakdown of Revenues for BFSI, Travel & Hospitality, Pharma & Healthcare, Telecommunication & ITES, Retail & Ecommerce, and Other End-Uses
• Regional Analysis
• World Interactive Voice Response (IVR) Systems Market by Region: Percentage Breakdown of Revenues for Developed and Developing Regions (2021 & 2027)
• World Interactive Voice Response (IVR) Systems Market - Geographic Regions Ranked by CAGR (Value) for 2020-2027: China, Asia-Pacific, Latin America, Africa, Middle East, Europe, USA, Canada, and Japan
• Competitive Scenario
• Select Popular IVR Systems
• Select IVR Service Providers
• Recent Market Activity
• Interactive Voice Response (IVR) Systems - Global Key Competitors Percentage Market Share in 2022 (E)
• Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2022 (E)

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
• Global Call Centers Market by Deployment (in %) for 2021
• Global Call Centers Market by End-Use (in %) for 2021
• 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
• American Companies Revamping the Client-Service Operations
• 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
• NLP and NLU Critical IVR Technologies Bringing Change
• Rapid Rise in Cloud-based Services Fuel Need for IVR Systems
• Global Public Cloud Services: Percentage Market Share by Service Type for 2020 and 2022
• 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
• Global Volume of Non-Cash Transactions (In Billion) for the Years 2018, 2020 & 2022
• 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
• 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
• Global B2C E-Commerce Sales in US$ Trillion for the Years 2019 to 2025
• Retail M-Commerce Sales as % of Retail E-commerce Sales Worldwide for the Years 2016, 2018, 2020 & 2022
• Pandemic Fast Forwards eCommerce Growth
• 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
• Challenges Facing IVR Systems Market

4. GLOBAL MARKET PERSPECTIVE

III. MARKET ANALYSIS

IV. COMPETITION

For more information about this report visit https://www.researchandmarkets.com/r/vfawde

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