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Global Market for Interactive Voice Response Systems to Reach $6.1 Billion by 2027

·4-min read

Dublin, June 25, 2021 (GLOBE NEWSWIRE) -- The "Interactive Voice Response (IVR) Systems - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.

Global Interactive Voice Response (IVR) Systems Market to Reach $6.1 Billion by 2027

Amid the COVID-19 crisis, the global market for Interactive Voice Response (IVR) Systems estimated at US$4.1 Billion in the year 2020, is projected to reach a revised size of US$6.1 Billion by 2027, growing at a CAGR of 5.6% over the period 2020-2027.

Touchtone-based, one of the segments analyzed in the report, is projected to record 5.5% CAGR and reach US$3.6 Billion by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Speech-based segment is readjusted to a revised 5.8% CAGR for the next 7-year period.

The U.S. Market is Estimated at $1.1 Billion, While China is Forecast to Grow at 8.7% CAGR

The Interactive Voice Response (IVR) Systems market in the U.S. is estimated at US$1.1 Billion in the year 2020. China, the world`s second largest economy, is forecast to reach a projected market size of US$1.3 Billion by the year 2027 trailing a CAGR of 8.5% over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 3.1% and 5.1% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 3.6% CAGR.

Key Topics Covered:

I. METHODOLOGY

II. EXECUTIVE SUMMARY

1. MARKET OVERVIEW

  • Influencer Market Insights

  • World Market Trajectories

  • Impact of COVID-19 and Looming Global Recession

  • Interactive Voice Response (IVR) Systems: An Introduction

  • Applications of IVR Systems

  • Benefits & Drawbacks of IVR Systems

  • Global Market Prospects & Outlook

  • Speech-Based IVR: The Major Segment

  • BFSI Sector Emerges as the Key Application Market

  • Competition

  • Select Popular IVR Systems

2. FOCUS ON SELECT PLAYERS

3. MARKET TRENDS & DRIVERS

  • Growth of Call Centers Industry Presents Opportunities for IVR Systems Market

  • Exhibit 1: Global Call Centers Market by Deployment Model (in %) for 2020E

  • Exhibit 2: Global Call Centers Market by Vertical (in %) for 2020E

  • Rise in Customer Calls in Call Centers & Need to Efficiency Address the Calls Gives Impetus to IVR Systems

  • Expanding Applications Present Growth Opportunities for IVR Systems Market

  • NoTable Trends in the IVR Market: A Review

  • Rising Integration of Advanced Technologies Boosts Growth in IVR Systems Market

  • Artificial Intelligence, Machine Learning & NLP Hold Tremendous Potential for IVR Systems

  • Rapid Rise in Cloud-based Services Fuel Need for IVR Systems

  • Exhibit 3: Global Cloud Services Market Size in $ Billion for the Years 2019, 2022 & 2025

  • Exhibit 4: Global Public Cloud Services: Revenues (in US$ Million) by Service Type for 2019 and 2022

  • Growing Importance of IVRs in Increasing Efficiency and Scalability of Organizations

  • Demand for IVR-based Outbound Services Continues to Grow

  • IVR Holds Tremendous Role in Improving Customer Service

  • BFSI Industry Looks to IVR Systems to Improve Services

  • Cloud Telephony Transforms BFSI Sector

  • Growing Importance of IVR Systems in Pharmaceutical & Healthcare Industry

  • 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

  • Innovative Use Cases of IVR Systems

  • Cloud Hosted IVR Systems Gain Momentum

  • Innovations & Advancements

  • Challenges Facing IVR Systems Market

4. GLOBAL MARKET PERSPECTIVE

III. MARKET ANALYSIS

  • UNITED STATES

  • CANADA

  • JAPAN

  • CHINA

  • EUROPE

  • FRANCE

  • GERMANY

  • ITALY

  • UNITED KINGDOM

  • SPAIN

  • RUSSIA

  • REST OF EUROPE

  • ASIA-PACIFIC

  • AUSTRALIA

  • INDIA

  • Impact of COVID-19 on IVR Systems Market

  • Robust Growth of Domestic Call Center Market: Opportunity for IVR Systems

  • 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

Companies Mentioned (Total Companie Profiled: 81)

  • [24]7.ai, 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

  • Mitel Networks Corporation

  • Nuance Communications, Inc.

  • True Image Interactive, Inc.

  • Verizon Communications, Inc.

  • Voicent Communications, Inc.

  • West Corporation

For more information about this report visit https://www.researchandmarkets.com/r/k5pqmp

CONTACT: CONTACT: ResearchAndMarkets.com Laura Wood, Senior Press Manager press@researchandmarkets.com For E.S.T Office Hours Call 1-917-300-0470 For U.S./CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900


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