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

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

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